Economics: Question Preview (ID: 13568)

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Means something that has been passed down in a culture form
a) Tradition b) Bartering c) Specialization d) Quota
Trading goods for other goods
a) Tradition b) Imported c) Bartering d) Tariff
Centralized economy, in which government planning groups make most of the economic decisions
a) Market Econome b) Command Economy c) Mixed Economy d) Traditional Economy
French phrase that means to allow them to do as they please
a) Laissez-faire b) C\'est tu fini c) Laissez Bon Ton Roulez d) Trez Bien
Located on a continuum between pure market and a Command market economy
a) Mixed Economy b) Trade Barriers c) North Korean Economy d) Traditional Economy
When both parties in the transaction see that they will be able to gain something in the exchange
a) Specialization b) Vouluntary Trade c) Self-Sufficient d) Quota
Creating products that a country does best at and are in demand
a) Specialization b) Tariff c) Embargo d) Quota
Anything that slows down or prevents one country from exchanging goods with another
a) Tariff b) Trade Barriers c) Bartering d) Quota
A tax placed on goods when they are imported
a) Tariff b) Trade Barriers c) Embargo d) Quota
Goods brought into one country from another country
a) Imported b) Embargo c) Ex-ported d) Tariff
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