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ClassTools Premium membership gives access to all templates, no advertisements, personal branding and many other benefits!
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| Question | Answer |
| You would most likely find a command economy in what type of government | communist |
| Would you find entrepreneurs in a communist country | no |
| What is the biggest difference between market and mixed economies | the government plays a role in a mixed economy |
| What economy type does the United States have | mixed |
| If a company spends money to educate its employees, it is investing in what | human capital |
| If you hunt and gather to survive you most likely have what type of economy | traditional |
| Goods a country buys from another country are _____ | imports |
| If a country has a low literacy rate what does that mean | few can read or write |
| What is population density | the 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 country | Export |
| An economy in which the government owns most of the industries and makes most economic decisions | Command Economy |
| An economy in which the consumers help determine what is to be produced by buying or not buying goods and services | Market Economy |
| A goods and services exchange system based on at least two other types of systems | Mixed Economy |
| Exchange of goods or services based on customs and tradition | Traditional Economy |
| Taxes on goods coming into a country | Tariff |
| Goods used in the production of commodities | Capital Resources/Goods |
| Person who is willing to take a risk to create a business to sell a new technique, idea, or product | Entrepreneur |
| An economic or physical limit to what can be traded with a country | Trade Barrier |
| The value of all goods and services produced within a country | GDP |
| To commit money or capital to gain a financial return | Investment |
| 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 market | Continuum |
| Money invested in a company’s goods (such as: machines, computers, buildings, land ect) | Capital Investment |