WorksheetsEconomics Key Terms Review
Total questions: 10
Worksheet time: 5hrs 0mins
Name
Class
Date
1.
___ is when a country makes only one or a few products.
a)
Investing in human capital
b)
specialization
c)
opportunity cost
d)
trade barrier
2.
A limit on trade is an ____. It's not stopped, there is just a number limit put on it.
a)
tariff
b)
quota
c)
embargo
d)
opportunity cost
3.
Things that come from the land, like crops, oil, water, trees, are all examples of ____.
a)
natural resources
b)
capital
c)
human capital
d)
entrepreneurship
4.
Factories, machinery, and technology are types of ____.
a)
capital
b)
human capital
c)
natural resources
d)
entrepreneurship
5.
Ideas, innovations, and risk involved in starting a business is ____.
a)
capital
b)
human capital
c)
natural resources
d)
entrepreneurship
6.
Stopping trade with another country or a product from that country is using an ____.
a)
tariff
b)
quota
c)
embargo
d)
opportunity cost
7.
_____ can be done by making sure your country offers citizens a good education or skills training.
a)
investing in capital
b)
investing in human capital
c)
investing in natural resources
d)
investing in entrepreneurs
8.
___ are taxes on imported goods.
a)
tariffs
b)
quotas
c)
embargos
d)
specializations
9.
People who perform labor/do jobs are examples of___.
a)
capital
b)
human capital
c)
natural resources
d)
entrepreneurs
10.
A country uses a ____ to slow down or stops imports in order to encourage people to buy goods made in their own country. They may do this through tariffs, quotas, or embargos.
a)
opportunity cost
b)
trade barrier
c)
investment in capital
d)
credit
100 %
