Home > C1 VocabularyEconomic Systems and Policies Report a question What’s wrong with this question? You cannot submit an empty report. Please add some details. 0% Economic Systems and Policies 1. The ______ sector includes industries such as banking, insurance, and real estate. service industrial agricultural financial 2. The economic ______ was characterized by a significant decline in GDP and widespread unemployment. recovery expansion recession boom 3. Economic ______ refers to the decrease in the value of goods and services over time. inflation stagnation recession deflation 4. The ______ market is highly volatile, with prices fluctuating based on investor sentiment. commodity stock real estate currency 5. The government’s ______ policy aims to promote sustainable development and reduce environmental impact. green fiscal monetary expansionary 6. The ______ sector of the economy includes industries involved in the extraction and production of raw materials. quaternary primary tertiary secondary 7. The concept of ______ involves government ownership and control of major industries. deregulation nationalization privatization liberalization 8. Many developing countries rely on ______ from international organizations to support their economies. investment trade loans aid 9. Free-market ______ advocate for minimal government intervention in the economy. advocates detractors critics proponents 10. Government ______ play a crucial role in regulating market activities and ensuring fair competition. subsidies policies interventions tariffs 11. The ______ rate is a key indicator of a country’s economic health, reflecting the percentage of unemployed individuals in the workforce. employment participation unemployment inflation 12. ______ agreements between countries can lead to increased economic cooperation and growth. Peace Diplomatic Bilateral Trade 13. ______ policies are designed to reduce government deficits and debt accumulation. Austerity Expansionary Monetary Fiscal 14. The government introduced new tax ______ to stimulate economic growth and encourage investment. levies penalties breaks incentives 15. Income ______ remains a significant issue in many developed and developing countries, affecting economic stability. stagnation inequality equality distribution 16. The central bank raised interest rates to curb ______ and stabilize the economy. regression inflation stagnation deflation 17. Many countries aim to achieve a ______ economy, balancing both growth and sustainability. deflated stable volatile inflated 18. Trade ______ can affect the balance of imports and exports, impacting a country’s economy. barriers policies alliances agreements Your score is The average score is 65% 0% Restart quiz