Economic Terms

5. A limit placed on the number of imports that enter the country
7. _____ are we going to produce it? (part of the 3 basic economic questions)
8. Countries on the right of the economic continuum are considered what type of economy
11. The total value of goods and services a country produces in a year
12. Countries on the left of the economic continuum are considered what type of economy
15. Things that people do for you
17. Makes most of the decisions in a command economy
19. The education, skill and training (includes healthcare) that a worker can bring to help a buisness (2 words no space between)
20. things you buy or consume
23. This law is important in a Capitalist Economy (3 words no spaces between )
25. Ways that countries limit trade witn one another is called trade ______
26. This country is furthest to the left on the continuum
27. This economy thrives on competition
28. Another name for a command economy

1. Voluntary exchange of goods and services between countries and people
2. ____ is going to buy it? (part of the 3 basic economic questions)
3. Tax on imports
4. Factories, technologies, buildings and tools that help a buisness (2 words no space between)
6. In this economy, jobs are determined by the customs and traditions of the past
9. Another name for a command economy
10. Putting something into something else, expecting a gain in return
13. Person who risks their time and money to start a business
14. Every country has a combination of market so therefore all countries are considered what type of economy
16. An order by the government to STOP trade with other countries
18. ____ are we going to produce? (part of the 3 basic economic questions)
21. This is an example of a free trade zone
22. This economy thrives on competition
24. This will go up if demand rises and supply goes down
29. Are there trade barriers in a Free Trade Zone (yes or no)