Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
European Economics
Study Guide for European Economics Test
| Question | Answer |
|---|---|
| What is the amount of people in a country (over the age of 15) that can read and write? | Literacy Rate |
| What is the economic level of success achieved by a country based on the availability of resources? | Standard of Living |
| What is the correct relationship between literacy rate and standard of living in most countries? | High Literacy rate means High standard of Living |
| What are the major types of economic systems in the world? | Traditional, Command and Market |
| In the ________ economy, the government decides what is produced. | Command |
| In a _________ economy, the items that people need to survive are the items that are produced. | traditional |
| In a ______ economy, the items that are produced are whatever people are willing to buy and sell? | market |
| The United States and the majority of European countries, have ______ economies. | mixed |
| _____ is how much of something that is available to sell to the public. | supply |
| _____ is how much people are willing to pay to have an item or a service. | demand |
| In a traditional economy, the following are produced. | food, clothing and shelter |
| Traditional economies do not use money to trade but goods or services, this is called. | bartering |
| In a command economy, in theory, everyone should get __ access to goods and services. | equal |
| Just like in the food chain, a __ is a person or people that makes a good or provides a service. | producer |
| Just like in a food chain, a _____ is a person or people that use or purchase a good or a service. | consumer |
| Ipods, Tv, Car and food are example of _________. | goods |
| Dentists, teachers and professional athletes all provide _______. | Services |
| The United Kingdom, Germany and Russia all have _____ economies. | mixed |
| A _____ is a tax of imported goods. | tariff |
| A ___ limits the amount of goods that can be imported from a certain country. | import quota |
| A _____ is a ban on trade with a certain country. | embargo |
| The four factors of production are: | natural resources, human resources, capital resources and entrepreneurship |
| Plants, mined metals, animals, oil, coal, and minerals are examples of: | natural resources |
| ____ includes the people with skills necessary to produce a product or perform a service. | human resources |
| ____ are the tools and machines that humans need to turn natural resources into final products. | capital resources |
| ____ are the people who come up with the idea for a product or service. | Entrepreneur |
Created by:
marycrippen
Popular Social Studies sets