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Social Studies 6th Grade Economics Vocabulary

AB
What to produce?One of the basic economic questions.
Command EconomyCuba's type of economic system.
QuotaA required amount that must be produced in a specific time frame.
NAFTAThis trade agreement was signed by Canada, Mexico and the United States.
Sugar CaneThis very sweet crop creates big business in South America.
CurrencyA nation’s money is referred to as this.
EntrepreneurThis is a person that creates or starts up their own business.
Abraham LincolnThis United States President is found on the $5 bill.
BarteringThis is another word for trade where goods are exchanged that does not involve money.
TariffThis is a type of tax placed on goods.
Volunteer TradeA type of trade in which both parties freely agree to and benefit from.
Black FridayThis is one of the biggest shopping days for businesses happening in November.



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