Asystem of exchange whereby one good/service is given in return for another; it does not require monetary exchange
question 1 options:

trade

bartering
question 2 (1 point)

an economic model wherein government planners make all business and financial decisions.
question 2 options:

market economy

command economy
question 3 (1 point)

an economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom.
question 3 options:

free enterprise

economic system
question 4 (1 point)

the (or capitalist) model places economic decisions in the hands of the people and the law of supply and demand dictate what goods/services are produced/provided, at what price, etc.
question 4 options:

command

market
question 5 (1 point)

the required amount of a specific good that must be produced in a given time frame.
question 5 options:

production quota

subsistence
question 6 (1 point)

an economic model governed by custom, habit, and history.
question 6 options:

command economy

traditional economy
question 7 (1 point)

the capacity of private citizens to create new businesses independent of government direction or intervention.
question 7 options:

free enterprise

entrepreneurship
question 8 (1 point)

the creation, maintenance, and expansion of businesses outside the control or influence of the government.
question 8 options:

production quota

free enterprise
question 9 (1 point)

producing only what is necessary for personal use/survival
question 9 options:

free enterprise

subsistence
question 10 (1 point)

a 0-100 scale which ranks world economies from most command-leaning (0) to most market-leaning (100).
question 10 options:

economic continuum

free enterprise
question 11 (1 point)

a term used to describe the market/command blending of all modern world economies.
question 11 options:

traditional economy

mixed economy
question 12 (1 point)

the 2016 referendum whereupon a majority of british citizens voted for the u. k. to withdraw from the european union; brexit is a contracted form of “british exit [from the e. u.]”.
question 12 options:

brexit

euros
question 13 (1 point)

the term which refers to the products of services originating in one’s own country; it is the antonym of foreign.
question 13 options:

foreign

domestic
question 14 (1 point)

european union member nations who use the euro as their common currency.
question 14 options:

brexit

eurozone
question 15 (1 point)

the money granted by the government to assist a business or industry in lowering the cost of its product/service.
question 15 options:

eurozone

subsidization
question 16 (1 point)

common currency of most european union member states; those e. u. nations currently using the euro are referred to collectively as the eurozone.
question 16 options:

peso

euro
question 17 (1 point)

the economic and political union of 28 european nations.
question 17 options:

eurozone

european union
question 18 (1 point)

the legal document which created the european union.
question 18 options:

treaty of lisbon

maastricht treaty
question 19 (1 point)

the legal document which amended and consolidated the maastricht treaty and the treaty of rome, and which forms the basis of the current constitution of the european union
question 19 options:

treaty of lisbon

maastricht treaty
question 20 (1 point)

the countries of europe’s southeastern balkan peninsula, including croatia, bosnia and herzegovina, slovenia, serbia, montenegro, kosovo, macedonia, romania, bulgaria, albania, and greece.
question 20 options:

balkins

germany

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