US Economy

In a _____________ economy, there is some government control and some free enterprise.

• mixed

• communist

• traditional

• supply

Americans are free to manage their own ____________

• state

• property

• government

• laws

_______________ and quotas are the main ways the United States government controls trade.

• Products

• Tariffs

• Foreign

• International

The _____________ is involved in the economy because it makes laws to protect businesses.

• business

• foreign trade

• government

• global economy

The study for how people's needs and wants are provided is ________________.

• scarcity

• mixed

• economics

• enterprise

A term that means there is not enough of something is ____________.

• supply

• economics

• scarcity

• enterprise

What does the government use taxes for?

• private goods and services

• public goods and services

• paying its own taxes

• increasing consumption

Technology has contributed to the global economy by (a)  

• increasing the cost of production
• slowing the sale of goods and servi
• lowering the cost of production
• eliminating goods and services

Markets in which the buying and selling of worldwide goods and services by all nations takes place is called (a)  

• Global Economy
• Free Market Economy
• Command Economy
• Mixed Economy

A major advantage of trading with other nations is that (a)  

• we can conserve our resources
• we are able to save money
• factories can produce whatever they
• jobs are sometimes eliminated