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SW Asia ECONOMICS

Quiz by Nat Christman

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38 questions
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  • Q1
    a limited or fixed amount of foreign goods that can come into a country
    Quota
    30s
  • Q2
    money; something that is used as a medium for the exchange of goods and services
    Currency
    30s
  • Q3
    A tax placed on goods when they are brought into one county
    Tariff
    30s
  • Q4
    a person who organizes and manages his or her own business
    Entrepreneur
    30s
  • Q5
    The price of one nations currency
    Exchange Rate
    30s
  • Q6
    The percentage of people who are able to read and write
    Literacy Rate
    30s
  • Q7
    starting a business; the development of a business from ground up- coming up with an idea and turning it into a profitable business
    Entrepreneurship
    30s
  • Q8
    practical application of knowledge to accomplish a task
    Technology
    30s
  • Q9
    the total value of all goods and services produced in a country in a year
    Gross Domestic Product (GDP)
    30s
  • Q10
    the skills, knowledge, and experience processed by an individual or population
    Human Capital
    30s
  • Q11
    level of comfort enjoyed by a person or society
    Standard of Living
    30s
  • Q12
    economy in which individual consumers and producers make all the economic decisions
    Market Economy
    30s
  • Q13
    economy that combines elements of traditional, market, and command economic systems
    Mixed Economy
    30s
  • Q14
    economy in which people make economic decisions based on their customs and habits; they produce goods and services like they did in the past
    Traditional Economy
    30s
  • Q15
    economy in which the central government makes all the basic economic decisions
    Command Economy
    30s

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