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