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Government And Economic Review 1
Test Description: Govt/Econ review 1
Instructions: Answer all questions to get your test result.
1) The exact spot on Earth where something is found
A
trade
B
relative location
C
absolute location
D
capital
2) the position of a place in relation to another place
A
relative location
B
embargo
C
currency
D
absolute location
3) exchange of goods or services based on custom and tradition
A
mixed economy
B
traditional economy
C
command economy
D
market economy
4) an economy in which business owners and consumers make decisions about what to make, sell, and buy
A
mixed economy
B
command economy
C
traditional economy
D
market economy
5) an economy in which the government owns most of the industries and makes most of the economic decisions
A
mixed economy
B
traditional economy
C
market economy
D
command economy
6) an exchange of goods and services based on at least two other types of economic systems
A
command economy
B
mixed economy
C
traditional economy
D
market economy
7) something that prevents trade between people or nations
A
currency
B
trade barrier
C
capital
D
citizen
8) taxes placed on items imported from outside the country
A
capital
B
embargo
C
quota
D
tariff
9) in international trade, this is the limit put on the amount of a specific good that can be imported
A
capital
B
quota
C
embargo
D
tariff
10) a trade barrier in which one country announces that it will no longer trade with another country in order to isolate and cause problems
A
tariff
B
embargo
C
quota
D
capital
*select an answer for all questions
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