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15 Cards in this Set
- Front
- Back
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This term refers to a product of the earth that people use to meet their needs.
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Natural Resource
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A tax that is added to the price of imported goods is a
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tariff
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A market economy is based on
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free enterprise
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Language, religion, customs and beliefs are part of a
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culture
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Taking down trade barriers so that goods flow freely among countries is called
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free trade
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one of the eight traits of culture?
religion geography economy history |
geography
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Economic decisions based on customs and beliefs are found in a
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traditional economy
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This term refers to what producers have that they want to sell
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supply
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Oil is a renewable or non renewable resource
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non-renewable
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The type of govenment where people vote for leaders is known as a
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democracy
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A(an) ----------- is a group of people who share a common history,language, religion,and some physical characteristics.
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Ethnic group
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A(n) ---------are basically the rules for how goods and services are produced and exchanged.
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economic system
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A ------ is a limit on how many items of a particular product can be imported from a particular country.
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Quota
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In this type of government, a person seizes control of the government and rules as they wish, with little regard for what te rest of the country wants.
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Dictatorship
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This term refers to an economic model that describes effects on price and quanity in a market econmy.
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Supply and Demand
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