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QR Challenge: Economics

QuestionAnswer
You would most likely find a command economy in what type of governmentcommunist
Would you find entrepreneurs in a communist countryno
What is the biggest difference between market and mixed economiesthe government plays a role in a mixed economy
What economy type does the United States havemixed
If a company spends money to educate its employees, it is investing in whathuman capital
If you hunt and gather to survive you most likely have what type of economytraditional
Goods a country buys from another country are _____ imports
If a country has a low literacy rate what does that meanfew can read or write
What is population densitythe amount of people who live in a certain area
When you are making jewelry in a command economy, each person completed one task to make the finished product. This is known as specialization
A country’s products sold to another countryExport
An economy in which the government owns most of the industries and makes most economic decisionsCommand Economy
An economy in which the consumers help determine what is to be produced by buying or not buying goods and servicesMarket Economy
A goods and services exchange system based on at least two other types of systemsMixed Economy
Exchange of goods or services based on customs and traditionTraditional Economy
Taxes on goods coming into a countryTariff
Goods used in the production of commoditiesCapital Resources/Goods
Person who is willing to take a risk to create a business to sell a new technique, idea, or productEntrepreneur
An economic or physical limit to what can be traded with a countryTrade Barrier
The value of all goods and services produced within a countryGDP
To commit money or capital to gain a financial returnInvestment
Converting currency (money) from one country into the currency of another country to pay for goods in that country Currency Exchange
Method of categorizing parts of the economy based on systems of command through marketContinuum
Money invested in a company’s goods (such as: machines, computers, buildings, land ect)Capital Investment

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