WorksheetsEconomics Vocabulary Quiz Terms #11-20
Total questions: 10
Worksheet time: 5mins
Name
Class
Date
1.
An economy in which most of the economic decisions are based on customs and habits of the past.
a)
traditional economy
b)
command economy
c)
market economy
d)
mixed economy
2.
An economy in which a society's economic decisions are made by individuals who decide what to produce and what to buy.
a)
traditional economy
b)
command economy
c)
market economy
d)
mixed economy
3.
An economy that has characteristics of both market and command economic systems
a)
traditional economy
b)
command economy
c)
market economy
d)
mixed economy
4.
Those products a country makes best and that are in demand on the world market.
a)
capital goods
b)
specialization
c)
natural resources
5.
Anything that slows down or prevents one country from exchanging goods with another.
a)
trade barriers
b)
entrepreneurs
c)
bartering
6.
A tax placed on goods when they imported into one country from another country.
a)
tariff
b)
quota
c)
embargo
7.
A way of limiting the amount of foreign goods that can come into a country.
a)
tariff
b)
quota
c)
embargo
8.
A product that one country BUYS from another.
a)
import
b)
export
9.
The amount of goods and services produced compared to the number of people.
a)
Gross National Product
b)
GDP per capita
c)
protective tariff
d)
Gross Domestic Product
10.
A tax placed on goods coming from another country which encourages citizens to buy goods from their own country.
a)
export
b)
embargo
c)
quota
d)
protective tariff
100 %
