7th grade economic terms

The following terms have ben pulled from the 7th grade Social Studies Georgia Performance Standards.

Activities for this list:

definitions & notes only words
  1. communist economy
    the managed economy of a communist state
  2. embargo
    a government order imposing a trade barrier
  3. market economy
    an economy that relies on market forces to determine prices
  4. quota
    a prescribed number
  5. standard of living
    a level of material comfort in terms of goods and services available to someone or some group
  6. tariff
    a government tax on imports or exports

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