WorksheetsEconomics
Total questions: 35
Worksheet time: 18mins
A________________is a trade barrier in which a tax is placed on goods.
quota
tariff
embargo
import
This is how a person's education and training help them do their job.
human capital
natural resources
market economy
capital goods
My grandfather traded a cow for six chickens and a hen. This is an example of _____________.
barter
import
export
embargo
My father owns a factory that makes shoes. He makes the coolest boots. Everyone wants his boots. He exports thousands of pairs of boot each year. My father is an ______.
consumer
agricultural worker
entrepreneur
resource officer
My Mother always takes me Christmas Shopping. We shop and shop. I love buying gifts for everyone. This make us ______________.
consumers
industrialists
entrepreneurs
tired
My Dad told me I needed to get a summer job. I have several yards that I mow. On Thursdays, I go around from house to house to collect my ____________.
consumers
insurance
wages
barter
Why are coal, silver, and oil considered natural resources?
They are a person's education.
They are tools used in a business.
They are a person's training.
They are found naturally in the earth.
The total money value of all goods and services produced in a country in one year is its ____________.
Gross Dumestic Prices
Grand Domestic Places
Gross Domestic Prices
Gross Domestic Product
These are the tools and resources used to run a business.
stuff I need
human capital
capital goods
natural resources
All the people who are working in a country are part of its __________________.
labor force
unemployment rate
literacy rate
life expectancy
Why would a country choose to trade with countries closest to them?
cheaper, faster, easier
they like them best
They can't speak the language
more expensive, more difficult, and slower
Why is it important to invest in Human Capital?
education
training
people will get better jobs and make more money
people need help
_________________is a synonym for factories.
continuum
agriculture
industry
consumer
In our present-day world, what type of economic system does every country have?
Traditional
Command
Free Market
Mixed
_______________________________are a trade barrier where a number limit is placed on items.
tariff
quota
embargo
import
The ____________________represents the number of people who can read and write in a country.
population
unemployment rate
literacy rate
life expectancy
An ________________________ is a trade barrier in which one country refuses to trade with another country.
embargo
tariff
quota
import
The number of people living in an area is its ___________________.
tradition
culture
population
customs
The ratio of the number of people without jobs in a country is the ___________________.
standard of living
unemployment rate
labor force
literacy rate
How well or how poorly a person is able to live in a certain country is ___________________________.
poverty line
unemployment rate
population
standard of ,living
The_____________________________is used in the changing of currency from on country to another.
literacy rate
standard of living
exchange rate
currency
The ______________________________is a line used to measure how much government control a country has.
literacy rate
command
economy
continuum
What is one reason entrepreneurs are important to countries?
people get rich
it gives people jobs
government can tell them what to do
makes trading easier
Goods bought from another country are _______________.
imports
exports
tariffs
quotas
Goods produced in a country and sold to another country are_________________.
imports
exports
tariffs
quotas
The higher the literacy rate in a country the _______________standard of living.
lower
higher
more equal
poorer
___________________________means that we decide how much people want something and then decided how much to produce.
traditional
imports
trade
supply and demand
Entrepreneurs live in this type of economic system.
traditional
command
free market
communist
Some companies are owned by the people. There are other things, such as health-care, banks, and schools that are owned by the government.
Traditional Economy
Command Economy
Market Economy
Mixed Economy
My boss purchased new dump trucks and cement mixers for us. Dump Trucks and Cement Mixers are examples of what type of resource?
Natural
Human
Capital
Tariff
The Aborigines of Australia continue to produce boomerangs just as their ancestors did. This is an example of which type of economic system?
Traditional
Command
Free Market
Mixed
Thailand refused to pay the extra money placed on fishing nets coming into the country. They decided to buy elsewhere.
tariff
embargo
quota
import
The USA wished to buy 4,000 cars from Germany. Germany would only permit the sale of 1500. This is an example of which trade barrier?
tariff
quota
embargo
import
What does international trade mean?
trading within your own country
the government makes the deals
people make the deals
trading with other countries
How often do currency values change?
Yearly
Monthly
Weekly
Daily
