Economics in Europe

What is an activity that slows or blocks the free exchange of goods and services?

• Specilization

• Trade Barrier

• Pure Market

• Literacy Rate

A company that focuses on the growth of the employee's education, skills, or training to better the productivity is called what?

• capital goods

• embargo

• human capital

• quota

What is the main purpose of an embargo?

• Blocks all trade with a country

• Creates peace with a country

• Determines war

• Limits the amount of products to get imported

A government that controls all business and financial decisions is called ______ economy.

• Pure Market

• Mixed

• Pure Command

• Traditional

The economic answers are determined by what the consumers need. What type of economy is this?

• Pure Market

• Pure Command

• Mixed

• Traditional

When a business focuses on a narrow range of products and services.

• Literacy Rate

• GDP (Gross Domestic Product)

• Specialization

• Exchange Rate

Most countries in Europe have a __________ economy.

• Command

• Market

• Traditional

• Mixed

What would be an example of someone demonstrating an entrepreneurship?

• Sally works for a company that hires temps for companies

• Sally works in human resources determining who is breaking company rules/

• Sally learned to sew and started a company making play clothes for daycares to purchase

• Sally works on weekends at the hospital as a volunteer.

What is the purpose of a system of currency exchange?

• Having the same currency around the world

• Allow for trade between countries

• Trading money to collect in a collection

• Finding the country that has the coolest currency

Why are entrepreneurs important for a nation's economy?

• Create jobs for the population

• Makes money for the government

• Adds value to the taxes breaks for our country

• Gives people the opportunity for tax write-offs