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Economics
Test Description: The types of economic systems and trade barriers.
Instructions: Answer all questions to get your test result.
1) Economic system where people control what is bought and solc
A
Traditional
B
Market
C
Command
2) Economic system where the government controls the basic economic decisions
A
Market
B
Traditional
C
Command
3) Tax on imports
A
Quota
B
Embargo
C
Tariff
4) Limit on imports
A
Quota
B
Tariff
C
Embargo
5) Stop all trade
A
Embargo
B
Tariff
C
Quota
6) Buildings, computers, or telephones of a business
A
Natural resources
B
Human capital
C
Physical capital
7) Education, training, and health insurance of employees
A
Natural resources
B
Physical capital
C
Human capital
8) Gold, timber, or solar power used by a business
A
Natural resources
B
Human capital
C
Physical capital
9) Customs and habits of the past determine what is produced
A
Command
B
Traditional
C
Market
10) Person that risks his time and money to start/run a business
A
Entrepreneur
B
Intrapreneur
C
Employee
*select an answer for all questions
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