Economic Terms Review

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8th grade World G

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Brandon Alexander

United States

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Economic Terms Review


Froggy Jumps Economic Terms ReviewOnline version 8th grade World G by Brandon Alexander 1 A country buying a good or service a import b export c embargo 2 A country selling a good or service a import b export c tariff 3 a ban on trade with a country a embargo b tariff c comparative advantage 4 a tax placed on imported goods a embargo b tariff c trade deficit 5 the ability of a country to produce a good at a lower cost than other countries a free trade b globalization c comparative advantage 6 Economic union between Canada, Mexico, and the USA reducing trade barriers and tariffs a NATO b NAFTA c OPEC 7 Which activity deals directly with extracting natural resources a primary b secondary c tertiary 8 Which activity deals with manufacturing and creating products from resources a primary b secondary c tertiary 9 Which activity deals with providing a service (such as retail, transportation, or teaching) a primary b secondary c tertiary 10 A _____ resource cannot be replaced quickly (coal, oil, wood) a nonrenewable b renewable c capital 11 A ______ resource can be replaced naturally a nonrenewable b natural c renewable 12 Materials from Earth that people use are called ______ a capital resources b natural resources c human resources 13 A _____ resource is man-made things like tools or machinery a natural b capital c renewable 14 Which economic union produces most of the world's oil and the majority of its members are in the Middle East? a Association of Southeast Asian Nations b World Trade Organization c Organization of Petroleum Exporting Countries 15 _____ is the total value of goods and services produced in a country (the worth of the nation) a Infrastructure b Gross domestic product (GDP) c Development rate 16 Most of the members of OPEC are located in what region? a South America b Africa c Middle East

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Economic Terms Review

Froggy Jumps

About this activity

Created by

Download the paper version to play

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Economic Terms ReviewOnline version

by Brandon Alexander

A country buying a good or service

A country selling a good or service

a ban on trade with a country

a tax placed on imported goods

the ability of a country to produce a good at a lower cost than other countries

Economic union between Canada, Mexico, and the USA reducing trade barriers and tariffs

Which activity deals directly with extracting natural resources

Which activity deals with manufacturing and creating products from resources

Which activity deals with providing a service (such as retail, transportation, or teaching)

A _____ resource cannot be replaced quickly (coal, oil, wood)

A ______ resource can be replaced naturally

Materials from Earth that people use are called ______

A _____ resource is man-made things like tools or machinery

Which economic union produces most of the world's oil and the majority of its members are in the Middle East?

_____ is the total value of goods and services produced in a country (the worth of the nation)

Most of the members of OPEC are located in what region?