Europe Economics Flashcard

Front

Imposing a tax on an imported good is a

Back

trade barrier

Front

The knowledge, skills, and relative health of a nation's labor force is...

Back

Human Capital

Front

In a traditional economy, the decision to make certain products is decided by...

Back

Customs

Front

What type of economy does the UK, Germany, and Russia have?

Back

Market

Front

What was created to make trade easier?

Back

European Union

Front

An increase in education will most likely lead to an increase in....

Back

An increase in GDP

Front

What is the currency of the European Union?

Back

Euro

Front

A scarcity of ____________ would cause skyscrapers to be built.

Back

Natural resources

Front

What is a quota?

Back

Limit on an imported good

Front

Why is entrepreneurship important?

Back

encourages new ideas and innovations