Home > C1 Vocabulary 0% Economic Systems and Policies 1. The ______ rate is a key indicator of a country’s economic health, reflecting the percentage of unemployed individuals in the workforce. employment unemployment participation inflation 2. The concept of ______ involves government ownership and control of major industries. liberalization privatization deregulation nationalization 3. Trade ______ can affect the balance of imports and exports, impacting a country’s economy. barriers alliances agreements policies 4. Free-market ______ advocate for minimal government intervention in the economy. detractors advocates proponents critics 5. The economic ______ was characterized by a significant decline in GDP and widespread unemployment. recovery boom recession expansion 6. ______ agreements between countries can lead to increased economic cooperation and growth. Trade Bilateral Diplomatic Peace 7. Government ______ play a crucial role in regulating market activities and ensuring fair competition. policies interventions tariffs subsidies 8. The government’s ______ policy aims to promote sustainable development and reduce environmental impact. green monetary fiscal expansionary 9. The government introduced new tax ______ to stimulate economic growth and encourage investment. levies incentives breaks penalties 10. Many countries aim to achieve a ______ economy, balancing both growth and sustainability. deflated volatile stable inflated 11. The central bank raised interest rates to curb ______ and stabilize the economy. inflation stagnation regression deflation 12. The ______ market is highly volatile, with prices fluctuating based on investor sentiment. real estate commodity stock currency 13. ______ policies are designed to reduce government deficits and debt accumulation. Expansionary Austerity Monetary Fiscal 14. Many developing countries rely on ______ from international organizations to support their economies. aid investment loans trade 15. The ______ sector includes industries such as banking, insurance, and real estate. agricultural service financial industrial 16. The ______ sector of the economy includes industries involved in the extraction and production of raw materials. primary quaternary secondary tertiary 17. Economic ______ refers to the decrease in the value of goods and services over time. recession deflation inflation stagnation 18. Income ______ remains a significant issue in many developed and developing countries, affecting economic stability. distribution inequality stagnation equality Your score is The average score is 50% 0% Restart quiz