Economics Vocab

3. the percent of adults in a country who can read and write
5. economic punishment
6. tax on an imported good
7. this type of economy is completely controlled by the government
12. this type of economy relies on tradition and jobs passed down through the family
13. the abbreviation for the total value of goods and services produced in a country per year
15. goods that make other goods such as tools and technology
16. the quality of life in a country such as the availability of food, housing, schools, and jobs
17. the skills and training of workers

1. this type of economy has a mix of command and market elements; all countries have this
2. a tool used to show where a country falls between command and market
4. goods that come from the earth such as oil, minerals, and agricultural products
8. this type of economy is completely controlled by citizens and businesses
9. stopping all trade
10. taking a risk to start a new business
11. the abbreviation for the total value of goods and services produced in a country per year per person
14. limit on an emported good