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