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Canadian Government And Economics Part 1
Test Description: Study Guide for Quiz
Instructions: Answer all questions to get your test result.
1) This economic system is where traditions, habits, and customs control the economic decisions.
A
TRADITIONAL
B
MARKET
C
MIXED
D
COMMAND
2) In this economic system, the government controls ALL economic decisions. Cuba and the Soviet Union have this type of economy.
A
MARKET
B
TRADITIONAL
C
COMMAND
D
MIXED
3) In this economic system, the people and the market control the economic decisions. Canada, Great Britain and the US have this type of economy.
A
MIXED
B
MARKET
C
TRADITIONAL
D
COMMAND
4) This is a tax on imported goods. It limits the amount of goods a country can import
A
EMBARGO
B
GDP
C
TARIFFS
D
QUOTA
5) This is a limit on the quantity or number of goods a county can import. It reduces foreign goods brought into a country
A
QUOTA
B
EMBARGO
C
GDP
D
TARIFF
6) This is a government order to stop trade with another country
A
EMBARGO
B
QUOTA
C
TARIFF
D
GDP
7) This is the worth of one country's money compared to that of another country’s
A
EXCHANGE MARKET
B
EXCHANGE RATE
C
CURRENCY EXCHANGE
D
GDP
8) This is how a country’s economic growth is measured
A
LITERACY RATE
B
STANDARD OF LIVING
C
GDP
D
EXCHANGE RATE
9) This factor of economic growth includes training and educating people
A
ENTREPRENEURSHIP
B
CAPITAL GOODS
C
NATURAL RESOURCES
D
HUMAN CAPITAL
10) This factor of economic growth includes renewable and non-renewable resources that are “Gifts from nature”
A
CAPITAL GOODS
B
NATURAL RESOURCES
C
ENTREPRENEURSHIP
D
HUMAN CAPITAL
*select an answer for all questions
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