MarketEconomyEconomic Model –Laws of supplyand demanddetermine what isproduced andconsumed (not thegovernment)TradeBarrierSomething thatslows or blocksexchange ofgoods orservicesbetween nationsTariffA tradebarrier thatplaces a taxon importedgoodsParliamentCommonname given tolegislature inparliamentarydemocracyEuropeanUnionTreatyofLisbonTraditionalEconomyEconomicModel –Ruled bycustom, habit,and historyAutocraticA governmentwhere politicalpower is witha singleleaderCommandEconomyEconomic Model– Governmentmakes allbusiness &financialdecisionsHumanCapitalThe knowledge,skills, and relativehealth of a nation’slabor force. Typically,if a nation invests intheir human capital, itwill raise the nation’sGDP per capitaDemocraticA governmentwhere politicalpower is witha nation’scitizensEmbargoA trade barrier thatplaces a block on alltrade with anothernation (The U.S.placed an embargoon trade with Cubawhile Castro wasleader).MixedEconomyEconomicModel – ablend ofmarket,command, andtraditionalExchangeRateApproximate valueof one nation’scurrency in termsof another’s (Xamount Euros isequal to Y amountof Dollars)EntrepreneurshipPrivate citizenswho create newbusinessesindependentfrom thegovernmentCapitalGoodsThe factories,machinery, andtechnology, etc.necessary foran industryMaastrichtTreatyPrimeMinisterHead ofgovernmentinparliamentarydemocracyEconomicContinuumScale from 0 –100 that rankseconomiesfrom Command(0) to Market(100).QuotaA tradebarrier thatplaces a limiton importedgoodsCurrencyExchangeConverting onenation’s moneyto another (inequivalentvalue)GDPGross DomesticProduct – Theestimated total valueof all the final goodsand servicesproduced in a nationwithin one yearBarteringA trade orexchange of onegood/service foranother (nomoney isnecessary)LiteracyRateThe percentageof a nation’spopulation whoare able to read& write and areover 15 years oldPresidentHead ofgovernmentinpresidentialdemocracyMarketEconomyEconomic Model –Laws of supplyand demanddetermine what isproduced andconsumed (not thegovernment)TradeBarrierSomething thatslows or blocksexchange ofgoods orservicesbetween nationsTariffA tradebarrier thatplaces a taxon importedgoodsParliamentCommonname given tolegislature inparliamentarydemocracyEuropeanUnionTreatyofLisbonTraditionalEconomyEconomicModel –Ruled bycustom, habit,and historyAutocraticA governmentwhere politicalpower is witha singleleaderCommandEconomyEconomic Model– Governmentmakes allbusiness &financialdecisionsHumanCapitalThe knowledge,skills, and relativehealth of a nation’slabor force. Typically,if a nation invests intheir human capital, itwill raise the nation’sGDP per capitaDemocraticA governmentwhere politicalpower is witha nation’scitizensEmbargoA trade barrier thatplaces a block on alltrade with anothernation (The U.S.placed an embargoon trade with Cubawhile Castro wasleader).MixedEconomyEconomicModel – ablend ofmarket,command, andtraditionalExchangeRateApproximate valueof one nation’scurrency in termsof another’s (Xamount Euros isequal to Y amountof Dollars)EntrepreneurshipPrivate citizenswho create newbusinessesindependentfrom thegovernmentCapitalGoodsThe factories,machinery, andtechnology, etc.necessary foran industryMaastrichtTreatyPrimeMinisterHead ofgovernmentinparliamentarydemocracyEconomicContinuumScale from 0 –100 that rankseconomiesfrom Command(0) to Market(100).QuotaA tradebarrier thatplaces a limiton importedgoodsCurrencyExchangeConverting onenation’s moneyto another (inequivalentvalue)GDPGross DomesticProduct – Theestimated total valueof all the final goodsand servicesproduced in a nationwithin one yearBarteringA trade orexchange of onegood/service foranother (nomoney isnecessary)LiteracyRateThe percentageof a nation’spopulation whoare able to read& write and areover 15 years oldPresidentHead ofgovernmentinpresidentialdemocracy

European Government & Economy - Call List

(Print) Use this randomly generated list as your call list when playing the game. There is no need to say the BINGO column name. Place some kind of mark (like an X, a checkmark, a dot, tally mark, etc) on each cell as you announce it, to keep track. You can also cut out each item, place them in a bag and pull words from the bag.


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  1. Economic Model – Laws of supply and demand determine what is produced and consumed (not the government)
    Market Economy
  2. Something that slows or blocks exchange of goods or services between nations
    Trade Barrier
  3. A trade barrier that places a tax on imported goods
    Tariff
  4. Common name given to legislature in parliamentary democracy
    Parliament
  5. European Union
  6. Treaty of Lisbon
  7. Economic Model – Ruled by custom, habit, and history
    Traditional Economy
  8. A government where political power is with a single leader
    Autocratic
  9. Economic Model – Government makes all business & financial decisions
    Command Economy
  10. The knowledge, skills, and relative health of a nation’s labor force. Typically, if a nation invests in their human capital, it will raise the nation’s GDP per capita
    Human Capital
  11. A government where political power is with a nation’s citizens
    Democratic
  12. A trade barrier that places a block on all trade with another nation (The U.S. placed an embargo on trade with Cuba while Castro was leader).
    Embargo
  13. Economic Model – a blend of market, command, and traditional
    Mixed Economy
  14. Approximate value of one nation’s currency in terms of another’s (X amount Euros is equal to Y amount of Dollars)
    Exchange Rate
  15. Private citizens who create new businesses independent from the government
    Entrepreneurship
  16. The factories, machinery, and technology, etc. necessary for an industry
    Capital Goods
  17. Maastricht Treaty
  18. Head of government in parliamentary democracy
    Prime Minister
  19. Scale from 0 – 100 that ranks economies from Command (0) to Market (100).
    Economic Continuum
  20. A trade barrier that places a limit on imported goods
    Quota
  21. Converting one nation’s money to another (in equivalent value)
    Currency Exchange
  22. Gross Domestic Product – The estimated total value of all the final goods and services produced in a nation within one year
    GDP
  23. A trade or exchange of one good/service for another (no money is necessary)
    Bartering
  24. The percentage of a nation’s population who are able to read & write and are over 15 years old
    Literacy Rate
  25. Head of government in presidential democracy
    President