1. By: Paree bhakta for: mrs.o’grady
Economic Vocabulary
By: Paree bhakta for: mrs.o’grady

2. Currency
Money-coins and bills

3. TARIFF
A TAX ON IMPORTED GOODS

4. Gifts of nature, present without human intervention
Natural resources
Gifts of nature, present without human intervention

5. What, how, and for whom to produce
3 economic questions
What, how, and for whom to produce

6. A LINE ON WHICH POSITIONS ARE PLOTTED
CONTINUUM
A LINE ON WHICH POSITIONS ARE PLOTTED

7. A PERSON WHO STARTS UP A COMPANY, TAKES THE RISKS
ENTREPRENUER
A PERSON WHO STARTS UP A COMPANY, TAKES THE RISKS

8. LIMITS ON THE QUANITY THAT CAN BE IMPORTED
QUOTA
LIMITS ON THE QUANITY THAT CAN BE IMPORTED

9. THE GOVERNMENT CONTROLS EVERYTHIG IN THIS SYSTEM
COMMAND
THE GOVERNMENT CONTROLS EVERYTHIG IN THIS SYSTEM

10. GOODS LEAVING,OR EXITING A COUNTRY
EXPORTS
GOODS LEAVING,OR EXITING A COUNTRY

11. TOTAL VALUE OF ALL GOODS AND SERVICES PRODUCED IN A COUNTRY IN A YEAR
GDP
TOTAL VALUE OF ALL GOODS AND SERVICES PRODUCED IN A COUNTRY IN A YEAR

12. NATURAL RESOURCES, CAPITAL GOODS, HUMAN CAPITAL, AND ENTREPRENEURSHIP
4 FACTORS OF ECONOMIC GROWTH
NATURAL RESOURCES, CAPITAL GOODS, HUMAN CAPITAL, AND ENTREPRENEURSHIP

13. HUMAN CAPITAL
HUMAN EFFORT, LIKE EDUCATION, DIRECTED TOWARD PRODUCTING GOODS AND SERVICES

14. HAS ELEMENTS OF COMMAND & MARKET SYSTEMS
MIXED SYSTEMS
HAS ELEMENTS OF COMMAND & MARKET SYSTEMS

15. GOODS COMIG INTO A COUNTRY
IMPORTS
GOODS COMIG INTO A COUNTRY

16. THIS SYSTEM REPEATS THE PAST
TRADITIONAL
THIS SYSTEM REPEATS THE PAST

17. THINGS THAT GET IN THE OF TWO NATIONS TRADING WITH EACH OTHER
TRADE BARRIES
THINGS THAT GET IN THE OF TWO NATIONS TRADING WITH EACH OTHER

18. BLOCKING GOODS FROM ENTERING A COUNTRY
EMBARGO
BLOCKING GOODS FROM ENTERING A COUNTRY

19. THIS SYSTEM HAS NO GOVERNMENT INTERVENTION
MARKET
THIS SYSTEM HAS NO GOVERNMENT INTERVENTION

20. GDP DIVIDED BY THE COUNTRY’S POPULATION
PER CAPITAL GDP
GDP DIVIDED BY THE COUNTRY’S POPULATION

21. THE END