Canadian Government And Economics Part 1 Question Preview (ID: 29161)


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This economic system is where traditions, habits, and customs control the economic decisions.
a) TRADITIONAL
b) MARKET
c) COMMAND
d) MIXED

In this economic system, the government controls ALL economic decisions. Cuba and the Soviet Union have this type of economy.
a) COMMAND
b) TRADITIONAL
c) MARKET
d) MIXED

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) MARKET
b) COMMAND
c) TRADITIONAL
d) MIXED

This is a tax on imported goods. It limits the amount of goods a country can import
a) TARIFFS
b) EMBARGO
c) QUOTA
d) GDP

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

This is a government order to stop trade with another country
a) EMBARGO
b) GDP
c) TARIFF
d) QUOTA

This is the worth of one country's money compared to that of another country’s
a) EXCHANGE RATE
b) CURRENCY EXCHANGE
c) EXCHANGE MARKET
d) GDP

This is how a country’s economic growth is measured
a) GDP
b) EXCHANGE RATE
c) STANDARD OF LIVING
d) LITERACY RATE

This factor of economic growth includes training and educating people
a) HUMAN CAPITAL
b) CAPITAL GOODS
c) NATURAL RESOURCES
d) ENTREPRENEURSHIP

This factor of economic growth includes renewable and non-renewable resources that are “Gifts from nature”
a) NATURAL RESOURCES
b) CAPITAL GOODS
c) HUMAN CAPITAL
d) ENTREPRENEURSHIP

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