Tariff  - A TAX on imported goods, Quota - A LIMIT on the quantity of an item brought into a country, Embargo - A STOP/BAN on trade with another country , GDP - The total value of all goods and services produced by a country in one year., Natural Resources - Materials or substances such as minerals, forests, water, and fertile land that occur in nature., Human Capital - The skills, knowledge, and experience possessed by an individual or population, Capital Goods - Goods that are used in producing other goods., Entrepreneur - A person who organizes and operates a business, taking on greater than normal financial risks., Mixed Economy - When BOTH government and people answer the economic questions, Command Economy - When the government makes all economic decisions & owns most of the property., Market Economy - When economic decisions are guided by the changes in prices and are affected by supply and demand., Traditional Economy - An economic system in which economic decision are based on customs and beliefs., Standard of Living - The degree of wealth and material comfort available to a person or community., Specialization - When people, businesses, regions, and/or nations concentrate on goods and services that they can produce better than anyone else.,

Basics of Economics

tarafından

Skor Tablosu

Görsel stil

Seçenekler

Şablonu değiştir

Otomatik olarak kaydedilen geri yüklensin mi: ?