A) good B) free enterprise C) natural resource D) service
A) tariff B) supply C) quota D) demand
A) command economy B) market economy C) traditional economy D) mixed economy
A) How much to produce? B) What to produce? C) For whom to produce? D) How to produce?
A) government control agriculture B) free labor C) government control of industry D) competition between businesses
A) producers B) government C) market D) consumers
A) roads B) factories C) education D) machinery
A) individuals B) the government C) no one D) private businesses
A) through bartering B) through prices and wages C) through shortages and surpluses D) through government regulation
A) quota B) embargo C) mountain D) tariff
A) Cuba B) United States C) Germany D) Russia
A) tariff B) embargo C) mountain D) quota
A) A person can start any legal business and charge any price. B) Businesses are owned by the government. C) The government provides food and housing to all workers. D) The government provides services, such as telephones and television.
A) Workers made most of the economic decisions for the country. B) The central government planned the economy for the entire nation. C) Its economics were controlled mainly by the global economy. D) Individuals made economic decisions based on supply and demand.
A) A country needs money in order to pay its workers. B) A country's economy is more successful when workers have good education and health care. C) Businesses cannot do all the training needd by workers to be successful. D) Workers enjoy getting extra training and job opportunities.
A) A person who starts a new business. B) A student in a college. C) A leader of a country. D) A worker in a factory.
A) people's income B) renewable resources C) imported goods D) people's property
A) Russia's natural resources are very difficult to use. B) The land in Siberia is very easy to farm. C) Russia can easily transport goods to Asia. D) Russia is the richest nation on earth.
A) traditional B) command C) market D) mixed
A) All are examples of traditional economies. B) All are examples of command economies. C) All are examples of pure market economies. D) All are examples of mixed economies.
A) command B) mixed C) traditional D) market
A) Needs to import more products. B) Does not need to import or export. C) Should import fewer products. D) Exports a wide variety of products.
A) quota B) supply C) tariff D) demand
A) command economy B) mixed economy C) market economy D) traditional economy
A) embargo B) tariff C) quota D) subsidy
A) investment in capital goods B) opportunity costs C) gross domestic product D) investment in human capital
A) entrepeneur B) opportunity costs C) gross domestic product D) trade surplus
A) the United States, Canada, and the United Kingdom B) United States, Canada, and Mexico C) the United States, Mexico, and the islands of the Caribbean D) the United States, the United Kingdom, and Germany
A) Companies produce goods of their choice and consumers decide whether to buy the goods. B) The government controls most of the businesses in the country. C) Basic goods in the country are provided to all people without charge. D) Workers are guaranteeded a pay raise every year.
A) Prices and wages are solely regulated by a country's government. B) The government controls all businesses. C) A country's distribution of resources is based on inheritance. D) A combination of a privately-owned industry and government control.
A) All are examples of pure command economies. B) All are examples of mixed ecoonomies that are mostly market economies with some elements of command economies. C) All are examples of pure market economies. D) All are examples of mixed economies that are mostly command economies with some elements of market economies.
A) exchange rate B) quota C) tariff D) embargo
A) charging goods on a credit card B) paying for services by check C) using currency to pay D) bartering with a seller
A) opportunity costs B) investment in human capital C) investment in capital goods D) gross domestic product |