Eco Systems Quiz Word Scramble
|
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
| Question | Answer |
| Traditional Economy | economy based on beliefs and values; usually involves bartering rather than exchange of currency. |
| Capitalism | economic system in which private owners control the production of goods and profit ( free enterprise and market economy ) |
| Market Economy | an economic system based on free trade and competition ( free enterprise and capitalism. |
| Socialism | economic system in which most businesses are owned and ran by the government ( usually communist ) |
| Communism | economic, social and political system based on the teaching of Karl Marx. |
| Command Ecomomy | an economic system in which the central government makes all economic decisions |
| Mixed Economy | an economic system that has a combinations of government and privetly owned businesses |
| Trade Barriers | obstacles to trade between countries |
| Quota | number limit on how many items of a particular product can be imported from a particular country |
| Tariff | a tax placed on imported goods |
| Embargo | bans on trading another country for political reasons |
| Economics | a Social Science that deals with the production, distribution and consumption of goods and services. |
| Bartering | exchanging one good or service for another |
| Supply | how much people have or how much is available |
| Demand | what or how much people want |
| Gross Domestic Product ( GDP ) | the value of all of the goods and services produced in a country per year |
| Standard of Living | how well citizens live based on goods, public services, education, health care and jobs |
| Literacy Rate | the % on how many people can read and write |
| Specialization | making a living doing what a person is best at |
| Opportunity Cost | the value of what is given when a choice is made |
| Currency | money |
| Exchange Rate | how much of one currency is worth in terms of another |
| Human Capital | a supply of people who produce goods and services |
| Capital Goods | items people need to preform their jobs |
| Natural Resources | items that come from the world around us that we use for ourselves |
| Entrepreneur | people with new ideas that are willing to take risks to start a businesses or made a product. |
Created by:
weakstick
Popular Economics sets