Which political barrier puts a tax on imported goods?

When the United States imposed an embargo against Cuba, it put ______________ on Cuba's communist government to change.

Why do countries need an exchange rate?

Read the following two statements:

1. Nation A produces cars more efficiently than it can grow food crops.

2. Nation A produces cars and buys food from Nation B.

What principle of economics is illustrated by these two statements?

Describes how a group of people decide what to make, how to make it, and for whom to make it.

Goods such as factories, machines, and tools that workers use to make other goods.

The knowledge and skills (education) that allow workers to produce goods and services and earn a salary.

Someone who uses resources to make a good or service.

Someone who buys or trades a good or service.

The total value of all goods and services produced in a country every year.

Goods and services traded with or sold to other countries.

Goods brought into one country from another through trade or sale.

An economic exchange in which all sides agree to participate because they expect to benefit.