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Types of Economics

Total questions: 10

Worksheet time: 5mins

Name
Class
Date
1.

What is a Tariff?

a)

A taco

b)

a tax on imports and exports between sovereign states

c)

another way to say text

d)

a type of land mass

2.

What is a Trade Barrier

a)

a type of tax

b)

a type of barrier on a land mass

c)

a government-induced restrictions on international trade

3.

What is a import quota?

a)

a type of trade restriction that sets a physical limit on quantity of a good that can be imported into a country in a given period of time.

b)

a trade between countries that does not involve money.

c)

a type of imported technology.

d)

a type of car.

4.

what is a embargo?

a)

its a traditional economy that uses money

b)

its a type of technology

c)

its a very old ancient temple

d)

a official ban on trade or other commercial activity with a particular country

5.

what is a human capital?

a)

the skills, knowledge, and experience possessed by a individual or population.

b)

to hire someone.

c)

a type of tax.

6.

Is a natural capital used in traditional economy?

a)

true.

b)

false.

7.

Do you have a high standard of living if your GDP is high?

a)

false.

b)

true.

8.

What country currently left the EU?

a)

Russia

b)

Germany

c)

UK

d)

Spain

9.

Is coffee the best drink?

a)

YES!

b)

NO!

10.

What is capital goods?

a)

goods that are used in producing other goods rather than being bought by consumers.

b)

a trade economy that you trade outdated technology.

c)

a good that everyone has to have.