Economics Vocabulary Review

1. Economics Vocabulary Review

2. The system of delivering goods and services to the consumer for purchase consumption embargo distribution capital

3. The system of delivering goods and services to the consumer for purchase c. distribution consumption embargo distribution capital

4. The value of all goods and services produced within a country in a one year human capital exports capital gross domestic product

5. d. gross domestic product The value of all goods and services produced within a country in a one year human capital exports capital gross domestic product

6. Spending by consumers on goods and services consumption production distribution tariff

7. Spending by consumers on goods and services a. consumption consumption production distribution tariff

8. Someone who starts a business agrarian human capital embargo entrepreneur

9. Someone who starts a business d. entrepreneur agrarian human capital embargo entrepreneur

10. The money and tools to make a product free enterprise b.capital c. economy d. commercial agriculture

11. The money and tools to make a product b. capital free enterprise capital economy commercial agriculture

12. A countries products that are sold to other countries cash crop economy imports exports

13. A countries products that are sold to other countries d. exports cash crop economy imports exports

14. A tax placed by the government on imports or exports mixed economy quota tariff embargo

15. A tax placed by the government on imports or exports c. tariff mixed economy quota tariff embargo

16. The making of goods and services for sale and use production quota embargo imports

17. The making of goods and services for sale and use a. production production quota embargo imports

18. The measure and value of an employee’s skills agrarian cash crop embargo human capital

19. The measure and value of an employee’s skills d. human capital agrarian cash crop embargo human capital

20. An economy in which the government owns most of the industries and makes most of the economic decisions free enterprise command economy traditional economy mixed economy

21. An economy in which the government owns most of the industries and makes most of the economic decisions b. command economy free enterprise command economy traditional economy mixed economy

22. A specific amount of goods required from a group or its members production mixed economy quota literacy rate

23. c. quota A specific amount of goods required from a group or its members production mixed economy quota literacy rate

24. A type of farming in which farmers grow just enough food to feed themselves and their family commercial agriculture cash crop agrarian subsistence agriculture

25. d. subsistence agriculture A type of farming in which farmers grow just enough food to feed themselves and their family commercial agriculture cash crop agrarian subsistence agriculture

26. System in which thepeople decide what to make, sell, or buy free enterprise agrarian traditional economy mixed economy

27. a. free enterprise System in which thepeople decide what to make, sell, or buy free enterprise agrarian traditional economy mixed economy

28. A crop grown to be sold rather than be eaten by the farmer quota cash crop subsistence agriculture agrarian

29. A crop grown to be sold rather than be eaten by the farmer b. cash crop quota cash crop subsistence agriculture agrarian

30. The percent of a country’s people age 15 and over that can read and write quota economy human capital literacy rate

31. The percent of a country’s people age 15 and over that can read and write d. literacy rate quota economy human capital literacy rate

32. An economy that is a combination of two other economic systems market economy free enterprise mixed economy command economy

33. An economy that is a combination of two other economic systems c. mixed economy market economy free enterprise mixed economy command economy

34. An economy that is based on traditions and customs market economy command economy free enterprise traditional economy

35. d. traditional economy An economy that is based on traditions and customs market economy command economy free enterprise traditional economy

36. A society based on farming agrarian commercial agriculture developing country quota

37. A society based on farming a. agrarian agrarian commercial agriculture developing country quota

38. Type of farming in which farmers produce food for sale subsistence agriculture commercial agriculture agrarian embargo

39. b. commercial agriculture Type of farming in which farmers produce food for sale subsistence agriculture commercial agriculture agrarian embargo

40. A nation that is moving towards depending more on manufacturing and less on agriculture consumption gross national product agrarian developing countries

41. d. developing countries A nation that is moving towards depending more on manufacturing and less on agriculture consumption gross national product agrarian developing countries

42. All of the activities that people do to earn a living including selling, making, & buying things and working economy gross national product consumption developing countries

43. All of the activities that people do to earn a living including selling, making, & buying things and working a. economy economy gross national product consumption developing countries

44. A government ban on some or all trade with a foreign nation quota embargo tariff imports

45. A government ban on some or all trade with a foreign nation b. embargo quota embargo tariff imports

46. The value of all goods and services that a country produces at home or abroad in a year gross domestic product cash crop free enterprise gross national product

47. The value of all goods and services that a country produces at home or abroad in a year d. gross national product gross domestic product cash crop free enterprise gross national product

48. Products that a country buys from other countries imports exports cash crop economy

49. Products that a country buys from other countries a. imports imports exports cash crop economy

50. Economy in which consumers help determine what is to be produced by buying or not buying certain goods or services command economy traditional economy market economy mixed economy