Podcast
Questions and Answers
Match the following economic indicators with their definitions:
Match the following economic indicators with their definitions:
Unemployment Rate = Percentage of the total labor force that is unemployed but actively seeking employment Gross National Product (at Factor Cost) = Total value of all goods and services produced by a country in a particular period Consumer Price Index (CPI) = Measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services Balance of Trade = Difference between the value of a country's exports and imports in a given period
Match the following economic policies with their descriptions:
Match the following economic policies with their descriptions:
Monetary Policy = Control of the money supply and interest rates by a central bank to influence a country's economy Fiscal Policy = Use of government spending and taxation to influence the economy Trade Policy = Regulations and agreements that control a country's imports and exports Industrial Policy = Government strategies for the development and growth of specific industries or sectors
Match the following economic systems with their characteristics:
Match the following economic systems with their characteristics:
Capitalism = Private ownership of the means of production and distribution of goods Socialism = Public ownership of the means of production and distribution of goods Mixed Economy = Combination of private and public ownership of the means of production and distribution of goods Command Economy = Centralized planning and control of the economy by the government
