6th SS - U. 4: Modern Europe Econ Vocab
About this set
Created by:
SchneidermanKIds on November 17, 2011
Subjects:
Description:
Vocabulary
Log in to favorite or report as inappropriate.
Order by
14 terms
Terms | Definitions |
|---|---|
 Traditional economy | jobs, habits, and customs are passed down |
| Command economy | controlled by government |
| Market economy | based on supply and demand with no government control |
| Human capital | Value of employees, education & abilities that help economy |
| Capital (goods) | goods such as machinery, that produce goods that people want to buy |
| Entrepreneurs | someone who takes risk to start a business |
| natural resources | things found in nature that people need - valuable in economy |
| Tariff | a government tax on imports or exports |
| Embargo | to refuse to ship goods or trade with another country |
| Quota | a limitation on imports |
| GDP (Gross Domestic Product) | total value of the worth of goods & services |
| Investment | Putting money into business, or project in order to make a profit |
| Currency | the type of money used by a country or a nation; money in any form used to exchange for goods and services |
| Literacy Rate | percentage of people who can read and write |
First Time Here?
Welcome to Quizlet, a fun, free place to study. Try these flashcards, find others to study, or make your own.