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- 1. Multiple ChoiceWhat is a barter?exchanging goods without moneyselling goods for goldtaking goods from others then selling themsalad dressing
- 2. Multiple ChoiceWhich of the following is not one of the three basic economic questions that every economy must answer?What goods/services will be produced?How will goods/services be produced?Who will consume the goods/services?How many of the goods will be produced?
- 3. Multiple ChoiceWhich of the following is NOT one of the three economic systems?CommandMarketFrequencyTraditional
- 4. Multiple ChoiceWhich would NOT be considered a physical trade barrier?A mountainA volcano eruptingA overflown riverA bicycle
- 5. Multiple ChoiceIn which economic system do individuals follow old customs and beliefs and usually have the same jobs as their parents?MarketTraditionalCommandFrequency
- 6. Multiple ChoiceWhat is an import?Goods leaving your countryGoods being brought into your countryGoods that are important
- 7. Multiple ChoiceWhat is an export?Goods being shipped out of a countryGoods being brought into a countryGoods/servicesNew Zealand
- 8. Multiple ChoiceWhich of the following is an example of specialiazationTaco Bell- TacosGeorgia- OrangesFlorida- PeachesChic-Fil-A- Tomatoes
- 9. Multiple ChoiceHow do traditional exchange goods?Sell themSteal themBarterThe answer is not shown
- 10. Multiple ChoiceWhat drives a market economy?ScarcityMoneyCitizensCompetition
- 11. Multiple ChoiceWhat is the root of economics?ScarcityCompetitionBusinessesCitizens
- 12. Multiple ChoiceWhat is the government's role in a command economy?They have a limited roleThey control everythingThey work with the citizens
- 13. Multiple ChoiceWhich of the following is NOT a type of trade barrier?QuotaTariffEmbargoMarket
- 14. Multiple ChoiceWhat is a tariff?A tax on imports and exportsA set limit on how many goods can be brought into a countryA ban on trade with another country
- 15. Multiple ChoiceWhy would a quota benefit a country?People will have to buy goods from their own country more oftenPeople will leave a countryPeople will make less money
- 16. Multiple ChoiceDefine embargo.A set limit on imports brought into a countryA ban on trade with another countryA set limit on how many goods can be brought into a country
- 17. Multiple ChoiceWHich system of government usually has a command economy?FederalUnitaryConfederation
- 18. Multiple ChoiceWhy would a country import a lot of goods from another country?That country specializes in that goodThe other country is brokeThe other country bombs the other country
- 19. Multiple ChoiceWhat is a trade?exchanging goodsstealing itemstaking itemsgiving items away
- 20. Multiple ChoiceIn a market economy, what do businesses base their price on?CompetitionThe governmentOther countries
- 21. Multiple ChoiceHow will goods/services be produced in a traditional economy?Same way as their ancestorsNew inventionsNew technologyThe government
- 22. Multiple ChoiceWho consumes the goods/services in a command economy?EveryoneThe government onlyWhomever the government decides
- 23. Multiple ChoiceWhat goods/services will be produced in a market economy?Whatever businesses decideWhatever the government decidesNothing
- Answer choicesTagsAnswer choicesTags