Tariff  - A TAX on imported goods, Quota - A LIMIT on imported goods, Emargo - A STOP/BAN on trade with another country , GDP - The amount of goods and services produced in a country in ONE year, Natural Resource - Things that are naturally found in or on the earth , Human Capital/Resources - The education and skills of WORKERS , Capital Goods/Resources - Man made things that help make other goods and services, Entrepreneur - A person who risks their own time and money to start a business, Mixed Economy - When BOTH government and people answer the economic questions, Command Economy - When the GOVERNMENT answers the economic questions, Market Economy - When the PEOPLE answer the economic questions based on supply and demand, Traditional Economy - When CUSTOMS and BELIEFS answer the economic questions,

Basics of Economics

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