Vocab Intro Economy and Government Quiz

What is the definition of Democracy?

• A system in which the power is with the citizens who can elect people to represent them.

• A political system governed by a single individual.

• Leader is Prime Minister.

• Citizens vote directly for President.

What is the definition of Autocracy?

• A system in which the power is with the citizens who can elect people to represent them.

• A political system governed by a single individual.

• Leader is Prime Minister.

• Citizens vote directly for President.

In a Presidential Democracy, how is the leader chosen?

• Citizens vote directly for President.

• Parliament votes for Prime Minister.

• Leader is appointed by a council.

• Leader is inherited through family.

What is a Monarchy?

• The face of a country or symbol.

• Leader of the Government.

• The office of the United States head of state.

• An autocracy governed by a king or queen.

What does the Economic Continuum measure?

• The distance between two countries

• The balance between imports and exports

• A country's economic system between pure market and pure command

• The growth rate of a country's economy

What is a Market Economy?

• An economy controlled by the government

• An economy that relies on the people to sell goods and services and determine prices without the government

• An economy based on barter and trade

• An economy that uses a central planning authority

What is a mixed economy?

• An economic system that combines market and command

• An economic system based on agriculture

• An economic system that relies solely on government

• An economic system with no trade

What is a command economy?

• An economic system that combines market and command

• An economic system that is based off government

• An economic system with no government involvement

• An economic system focused on international trade

What are trade barriers?

• Policies that encourage international trade

• Any rule or policy that restricts international trade

• Government incentives for trade

• Free trade agreements

What is an embargo?

• A government stop on trade

• A trade agreement between countries

• A tax on imported goods

• A policy to increase exports