my quizz

renewable resource

• a resource that can be totally replaced or is always available naturally

• how a society decides on the ownership and distribution of its economic resources

• a resource that cannot be totally replaced

• measurement of what is produced and what is required to produce it

nonrenewable resource

• an economy in which resources are distributed mainly through families

• how a society decides on the ownership and distribution of its economic resources

• a resource that cannot be totally replaced

• when a group of countries decides to set few or no tariffs or quotas

economic system

• an economy in which resources are distributed mainly through families

• measurement of what is produced and what is required to produce it

• the total dollar value of all final goods and services produced in a

  country during a single year

• how a society decides on the ownership and distribution of its economic resources

traditional economy

• (GDP) the total dollar value of all final goods and services produced in a

  country during a single year

• measurement of what is produced and what is required to produce it

• an economy in which resources are distributed mainly through families

market economy

• an economy in which most of the means of production are privately owned

• a resource that can be totally replaced or is always available naturally

• when a country brings in a product from another country

• the total dollar value of all final goods and services produced in a

  country during a single year

command economy

• an economy in which the means of production is not publicly owned

• an economy in which the means of production are publicly owned

• how a society decides on the ownership and distribution of its economic resources

• measurement of what is produced and what is required to produce it

mixed economy

• when a group of countries decides to set few or no tariffs or quotas

• the level at which a person, group, or nation lives as measured by the extent to

  which it meets its needs

• an economy in which parts of the economy may be privately owned, and parts

  may be owned by the government

• a resource that can be totally replaced or is always available naturally

gross domestic product (GDP)

• the level at which a person, group, or nation lives as measured by the extent to which it meets its needs

• how a society decides on the ownership and distribution of its economic resources

• none

• the total dollar value of all final goods and services produced in a

  country during a single year

standard of living

• when a group of countries decides to set few or no tariffs or quotas

• all of the above

• the level at which a person, group, or nation lives as measured

• none

productivity

• an economy in which resources are distribution of its economic resources

• measurement of what is produced and what is required to produce it

• import

• free trade