WorksheetsEconomic Concepts
Total questions: 10
Worksheet time: 5mins
means to send products or services to another country for sale in its markets (verb)
As a noun, this word refers to the item itself - product or service-that is sent out of a country for sale.
Demand
Supply
Import
Export
As a noun, it means the item that is brought in. As a verb, it means to bring in merchandise - products or services-from another country.
Supply and Demand
Import
Export
Demand
In Economics, it is the quantitiy of a product or service that is available for purchase.
Bullion
Demand
Import
Export
In Economics, supply is the quantitiy of a product or service that is available for purchase.
Bullion
Supply
Import
Export
refers to precious metals - especially gold and silver
Mercantilism
Supply
Bullion
Export
economic theory that European governments followed in the competion with each other. It included controlling the economy by acquiring a large supply of precious metals.
Mercantilism
Supply
Bullion
Export
relationship between the monetary value of goods a country exports to the value of goods it imports. A country has a favorable balance of trade when the price of its exports is greatere than the cost of its imports, or, to put it simpl, when it takes in more than it sends out.
Mercantilism
Balance of Trade
Bullion
Tariff
tax on goods brought into a country for sale. The tariff makes the price of those goods higher tahn they would be without it, so it discourages people form buying the foreign products and encourages them to buy products made in their own country.
Mercantilism
Balance of Trade
Bullion
Tariff
a grant - a gift of money from a government to a private person or business for an activity that is helpful to the state.
Supply
Supply and Demand
Subsidy
Tariff
refers to the relationship between supply and demand, and it is dependent on price. The higher the pirce is for a good or serve, the fewer people will want to buy it. Similarly, the scarcer aproduct or service the more money people will be willing to pay for it.
Supply
Supply and Demand
Subsidy
Tariff
