Economics Game: Question Preview (ID: 20938)

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Economy based on customs and habits of the past.
a) Traditonal
b) Command
c) Market
d) Mixed

An economy planned and controlled by the government.
a) Traditional
b) Command
c) Market
d) Mixed

An economy where business owners and customers make the economic decisions.
a) command
b) mixed
c) traditional
d) market

An economy that is a combination of a market and command economy.
a) market
b) command
c) mixed
d) traditional

An investment in education, training, skills, and health of workers.
a) GDP
b) human capital
c) barter
d) physical capital

The value of the goods and services produced in a country in a year.
a) Gross Domestic Product (GDP)
b) human capital
c) physical capital
d) capital goods

When a country invests in new factories, machinery, and technology, they are investing in what?
a) human capital
b) Gross Domestic Product (GDP)
c) physical capital
d) inheritance

Taxes on goods that are imported from another country.
a) quota
b) embargo
c) barter
d) tariff

A government ban on trade with a foreign country.
a) embargo
b) tariff
c) quota
d) inheritance

A limit on imports that may enter a country.
a) tariff
b) quota
c) capital goods
d) embargo

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