Economics Question Preview (ID: 16273)
The Types Of Economic Systems And Trade Barriers.
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Economic system where people control what is bought and solc
a) Command
b) Traditional
c) Market
d)
Economic system where the government controls the basic economic decisions
a) Command
b) Market
c) Traditional
d)
Tax on imports
a) Tariff
b) Quota
c) Embargo
d)
Limit on imports
a) Tariff
b) Quota
c) Embargo
d)
Stop all trade
a) Tariff
b) Quota
c) Embargo
d)
Buildings, computers, or telephones of a business
a) Human capital
b) Physical capital
c) Natural resources
d)
Education, training, and health insurance of employees
a) Human capital
b) Physical capital
c) Natural resources
d)
Gold, timber, or solar power used by a business
a) Human capital
b) Physical capital
c) Natural resources
d)
Customs and habits of the past determine what is produced
a) Command
b) Market
c) Traditional
d)
Person that risks his time and money to start/run a business
a) Intrapreneur
b) Employee
c) Entrepreneur
d)
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