Economy

If the standard of living is higher, it means a country is more wealthy than others

• no

• yes

something a country sells to another country

• import

• export

something a country buys from another country

• import

• export

If the standard of living is lower, it means a country is more poor than others

• yes

• no

Sometimes countries import the same things they export because it can be cheaper /better made.

• yes

• no

What vocabulary word means the way in which goods and services are made, sold, and used in a country or area?

• Economy

• Sustainable

• Infrastructure

• Urban

Most countries in the world, including the US, use what economic system?

• Traditional

• Command

• Market

• Mixed

Which type of economic system is people making and growing their own food?

• Traditional

• Command

• Market

Competition between businesses is an example of what economic system?

• Traditional

• Command

• Market

Which economic system is based on government control?

• Traditional

• Command

• Market