Europe Economy Vocab
Quiz yourself by thinking what should be in
each of the black spaces below before clicking
on it to display the answer.
Help!
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| show | an economic system that relies on fishing, farming, hunting and gathering; guided by traditions ; bartering instead of money
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| show | an economic model used by governments to determine what should be produced/provided in terms of goods and services
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| command economy | show 🗑
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| show | an economic model in which the laws of supply and demand determine what is produced/consumed and at what cost
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| barterring | show 🗑
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| capital goods | show 🗑
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| show | focusing on a narrow range of products/services that can be produced most efficiently and cost effectively
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| literacy rate | show 🗑
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| standard of living | show 🗑
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| show | any government restriction on international trade
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| quota | show 🗑
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| embargo | show 🗑
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| tariff | show 🗑
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| show | economic and political union of 28 European Nations
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| show | an economic system that blends characteristics of command and market economies
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| euro- | show 🗑
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| industry | show 🗑
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| gross domestic product (GDP) | show 🗑
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| human capital | show 🗑
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| show | someone who starts and runs a business.
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