Presentation on theme: "Political and Economic Systems Test Review. This system is where some laws come from the central government, and some laws come from each state? 1. Unitary."— Presentation transcript:
How does investing in human capital impact a nation’s economy 1. it increases the literacy rate and effectiveness of business 2. it decreases the amount of unemployment and crime 3. it adds to the Gross Domestic product of the country 4. all of the above
A place or situation where money from different countries is bought and sold for a price is… (ex. I go to Germany and have to swap my dollars for Euros) 1. economic growth 2. GDP 3. exports 4. currency exchange
Which of the following statements is the BEST example of a command economy? 1. anyone can easily start a company 2. anyone can easily make a profit from hard work 3. the government decides the jobs of its citizens and what’s for sale 4. traditional foods are gathered.
3. the government decides the jobs of its citizens and what’s for sale
way in which a nation uses its resources to satisfy people’s needs and wants 1. supply and demand 2. scarcity 3. GDP 4. market economy
When a government limits free trade between countries (embargo, tariff, quotas). Can also be a physical feature (ex. Mountains) or wars, weather, etc. 1. scarcity 2. export 3. import 4. trade barrier