NEW
Font size
WorksheetsEconomics and Government Terms
Total questions: 27
Worksheet time: 14mins
This is an economic system based on the practices off the past. In this economic system most everyone is involved in agriculture (growing crops and raising animals).
Mixed Economy
Traditional Economy
Command Economy
Market Economy
This refers to most items that are produced by people for consumption (use).
Goods
Services
Export
Import
True or False? Natural Resources, Human Resources, Capital Resources, and Entrepreneurship are apart of the Four Factors of Production?
False
True
This refers to acts that one does for someone in return for wages (money).
Goods
Tariff
Services
Economics
What is a Trade Deficit?
It refers to the act of buying goods and services from another country.
This happens when a country sells more goods and services than it buys from that country.
This refers to actions taken by a government to either slow down or completely stop trade with a particular country.
This accrues when a country buys more goods and services that it sells to that country.
What is a Trade Barriers?
This refers to actions taken by a government to either slow down or completely stop trade with a particular country.
This happens when a country sells more goods and services than it buys from that country.
It refers to selling goods and services to another country.
This act limits the number/amount of goods that are important from another country.
What is an Absolute Monarchy?
It is a form of dictatorship. One person is in charge of the country.
There is a king/queen. He/she is in charge of the country. He/she makes all of the decisions.
There is a king/queen. his/her power are limited. He/she cannot make all of the decisions.
It's a form of dictator. A small group of individuals are in charge. They make all the decisions for everyone.
This happens when a country sells more goods and services than it sells to that country.
Trade Barriers
Trade Deficit
Trade Surplus
Tariff
What refers to a system of producing, selling, buying, and trading goods and services?
Embargo
Export
Import
Economics
This is an economic system in which all aspects of the economy, such as private ownership, production, and employment is controlled by people 100% of the time.
Market Economy
Mixed Economy
Traditional Economy
Command Economy
This type of government is when the citizens elect the members of parliament (where the laws are made). The members of the parliament elect one of their own to be the prime minister. he/she runs the government.
Oligarchy
Presidential Democracy
Parliamentary Democracy
Constitutional Monarchy
This refers to the act of exchanging goods and services.
Quota
Import
Trade
Tariff
This is an economic system in which all aspects of economy, such as private ownership, production, and employment is controlled by the government 100% of the time.
Mixed Economy
Market Economy
Traditional Economy
Command Economy
What is an Oligarchy?
It is a form of dictatorship. One person is in charge of the country.
It is a form of dictatorship. A small group of individuals are in charge. They make all decisions for everyone.
There is a king/queen. He/she is in charge of the country. He/she makes all of the decision.
There is a king/queen. His/her power are limited. He/she cannot make all decisions.
What refers to the act of buying goods and services from another country?
Export
Embargo
Import
Quota
True or False? A Quota is acts limits the number/amount of goods that are imported from another country.
True
False
Mixed Economy is...
This is an economic system in which all aspects of economy, such as private ownership. production, and employment is controlled by people 100% of the time.
This is and economic system based on the practices of the past. in this economic system most everyone is involved in agriculture.
This is an economic system in which all aspects of economy, such as private ownership. production, and employment is controlled by the government 100% of the time.
This is the economic practice of almost all of the countries of the world.
What type of government is a form of dictatorship that has one person is in charge of the country?
Oligarchy
Autocratic/Autocracy
Presidential Democracy
Absolute Monarchy
What is Tariff?
This act stops all trade with a particular country. This happens in the time of war with another country.
This act limits the number/ amount of goods that are imported from another country.
This is a tax added to an item that is imported from another country, Its purpose so to make the imported item more expensive so that people would buy goods that are manufactured inside that country.
This refers to actions taken by a government to wither slow down or completely stop trade with a particular country.
There is a king/queen. His/her powers are limited. He/she cannot make all decisions.
Constitutional Monarchy
Presidential Democracy
Absolute monarchy
Oligarchy
What refers to selling goods and services to another country?
Export
Tariff
Import
Embargo
____________________ is a form of democracy. Citizens vote for their presidents directly during the elections. He/she runs the government.
Parliamentary Democracy
Absolute Monarchy
Presidential democracy
Constitutional Monarchy
_____________ is an act that stops all trade with a particular country. This happens in the time of war with another country.
Quota
Embargo
Tariff
Trade Barriers
What recourses are tools, machines, buildings including the land?
Natural Resources
Human Resources
Capital Resources
Entrepreneurship
These resources are not man made.
Capital Resources
Natural Resources
Entrepreneurship
Human Resources
This resource uses labor and workers.
Natural Resource
Entrepreneurship
Capital Resource
Human Resource
____________ is a person who takes the chance and risk of starting his/her business.
Entrepreneurship
Capital Resource
Human Resource
Natural Resource
