Aria and Aiden are focusing on producing those goods they can make most easily so they can trade them for goods made by others that cannot be produced locally.

(a)  

Isla is studying international trade and learns about a tax on imported goods. What is this tax called?

(a)  

Aiden is planning a trip abroad and wants to bring back some souvenirs. However, he learns there is a number limit on the amount of goods that can be brought into the country. What is this limit called?

(a)  

Sophia was learning about international relations in her class. Her teacher explained that sometimes countries impose a ban on trade with another country for economic or political reasons. What is this called?

(a)  

Priya is studying economics and wants to understand the sum of all goods and services produced in a country in one year. What is this economic measure called?

(a)  

Samuel and Abigail are discussing the education, skills, and training that people (workers) have.

(a)  

Lily is studying the various resources available to her country for production. She learns about factories, machinery, tools, & technology available to a country. What are these collectively known as?

(a)  

In a country where all economic decisions are made by the government, how would you describe this type of economy?

(a)  

In a bustling city, all economic decisions are made by buyers (consumers) and sellers (producers) at the local market.

(a)  

In Luna's village, all economic decisions are based on custom and habit from the past.

(a)  

Elijah is learning about gifts of nature used to produce goods in his economics class. What are these gifts called?

(a)  

Maya is someone who is willing to take a risk to start a new business

(a)  

Rohan is studying an economy with a blend of command and market economies. What type of economy is this?

(a)  

Ava is studying the policies of a country that stop or slow down free trade with other countries.

(a)  

Nora and Avery freely & willingly exchanging goods and services with each other

(a)  

William and Aria are deciding how to use their limited resources to produce goods & services that meet their unlimited wants & needs.

(a)  

Producing those goods a country can make most easily so they can trade them for goods made by others that cannot be produced locally

(a)  

A tax on imported goods

(a)  

A number limit on the amount of goods that can be brought into the country

(a)  

A ban on trade with another country for economic or political reasons

(a)  

The sum of all goods and services produced in a country in one year

(a)  

Education, skills, and training that people (workers) have

(a)  

Factories, machinery, tools, & technology available to a country

(a)  

All economic decisions are made by the government

(a)  

All economic decisions are made by buyers (consumers) and sellers (producers)

(a)  

All economic decisions are based on custom and habit from the past

(a)  

Gifts of nature used to produce goods

(a)  

Someone who is willing to take a risk to start a new business

(a)  

An economy with a blend of command and market economies

(a)  

Policies of a country that stop or slow down free trade with other countries

(a)  

Buyers and sellers freely & willingly exchanging goods and services with each other

(a)  

The choices we make about how to use limited resources to produce goods & services that meet our unlimited wants & needs

(a)