In this type of economic system the government makes ALL economic decisions. (RR2)

In this type of economic system producers and consumers are free to make their own economic choices without ANY government interference. (RR2)

In most countries, producers and consumers are free to make most of their own economic choices, but the governments make some economic rules for the purpose of public safety. What do we call this type of economic system? (RR2)

Which of the following would be an example of investment in physical capital? (RR3/QR43)

Which of the following would be an example of how an entrepreneur could improve the Gross Domestic Product (GDP)? (QR43-Infer)

What is a tariff and why would a government put one in place? (RR4/4-B and C)

Which of the following would be an example of investment in human capital? (RR3/QR43)

Which of the following would most likely be a result of protectionism with trade barriers, but would NOT be a likely result of Free Trade? (RR4B and C)

A(n) _______________ is when a government bans trade with a certain country. The United States has had one of these in place against Cuba. (RR4)

The total value ($) of all goods and services produced in a country in a year. It is used to determine the economic strength of a country. (QR43)

If a country commits to investing 10% more in human capital by providing public education to its citizens, what effect would they expect that investment to have on the GDP? (QR43)

“I live in a hut that my family and I made of things we gathered from our surrounding environment. We don’t use currency, so we have to make or trade for the things we need to survive.” (RR2)

When a country focuses on producing only what it can produce most efficiently (fast cheap) (QR42)

A limit on the amount of foreign goods that can be imported into a country. (RR4)

Every country in the world today has some form of mixed economy. Of the following countries, which has an economic system closest to a command economy? (QR44-A)

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