Vocab - Week 8

Question 1

An economy that gives people the freedom to make choices and buy their own things.

Global economy. Market economy. Command economy

Answer 1

Market economy

Question 2

Goods that are produced to sell.

Commodity. Arable. Outsourcing

Answer 2

Commodity

Question 3

Land Suitable for growing crops.

Monopoly. Commodity. Arable

Answer 3

Arable

Question 4

Total control of an industry by one person or company.

Trade deficit. Monopoly. Eutrophication

Answer 4

Monopoly

Question 5

Countries economies that are dependent on each other for goods and services. The worlds economy.

Global economy. Trade deficit. Trade surplus

Answer 5

Global economy

Question 6

Spending more money on imports than what is earned on exports. (Spending more money on what is coming into the country than what is being made n products that are leaving the country)

Trade deficit. Trade surplus. Arable

Answer 6

Trade deficit

Question 7

Taxes that are charged on imports.

Eutrophication. Commodity. Tariff

Answer 7

Tariff

Question 8

Earning more money on exports than you spend on imports.

Trade surplus. Global economy. Trade deficit

Answer 8

Trade surplus

Question 9

Setting up plants to make products and service industries in other countries because it is cheaper.

Monopoly. Market economy. Outsourcing

Answer 9

Outsourcing

Question 10

The process where a body of water becomes rich with nutrients and encourages overgrowth of algae.

Arable. Eutrophication. Commodity

Answer 10

Eutrophication