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