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