Economic 202 And 303 Terms: Question Preview (ID: 28790)

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A government order stopping trade with another country to put pressure on the government of that country
a) embargo b) quota c) tariff d) GDP
A limit placed on the number of imports that may enter a country
a) embargo b) quota c) tariff d) currency
A tax on imports
a) embargo b) quota c) tariff d) physical capital
The division of labor; work is divided into parts for workers, factories, or countries to become experts at producing certain goods
a) human capital b) entrepreneur c) embargo d) specialization
One who risks his or her own money, time, ideas, and energy to start and run a business
a) entrepreneur b) specialization c) natural resources d) currency
Factories, machines, technologies, buildings, and property needed for a business to operate
a) human capital b) physical capital c) investment capital d) natural resources
Workers of a business or country including their education, training, skills, and health
a) human capital b) physical capital c) investment capital d) natural resources
The total value of all the goods and services produced in a country in one year
a) natural resources b) specialization c) entrepreneur d) GDP - gross domestic product
Money used in a particular country to buy goods and services
a) specialization b) entrepreneur c) currency d) natural resources
Materials or substances such as minerals, forests, water, and fertile land that occur in nature and can be used for economic gain
a) human capital b) natural resources c) currency d) GDP
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