A) free enterprise B) service C) natural resource D) good
A) supply B) quota C) demand D) tariff
A) command economy B) traditional economy C) mixed economy D) market economy
A) What to produce? B) How much to produce? C) How to produce? D) For whom to produce?
A) competition between businesses B) government control agriculture C) free labor D) government control of industry
A) consumers B) market C) government D) producers
A) education B) machinery C) roads D) factories
A) individuals B) no one C) private businesses D) the government
A) through prices and wages B) through government regulation C) through bartering D) through shortages and surpluses
A) tariff B) quota C) mountain D) embargo
A) Germany B) Russia C) Cuba D) United States
A) tariff B) embargo C) quota D) mountain
A) The government provides services, such as telephones and television. B) A person can start any legal business and charge any price. C) Businesses are owned by the government. D) The government provides food and housing to all workers.
A) The central government planned the economy for the entire nation. B) Its economics were controlled mainly by the global economy. C) Individuals made economic decisions based on supply and demand. D) Workers made most of the economic decisions for the country.
A) Workers enjoy getting extra training and job opportunities. B) Businesses cannot do all the training needd by workers to be successful. C) A country needs money in order to pay its workers. D) A country's economy is more successful when workers have good education and health care.
A) A leader of a country. B) A student in a college. C) A person who starts a new business. D) A worker in a factory.
A) people's income B) people's property C) imported goods D) renewable resources
A) Russia is the richest nation on earth. B) Russia can easily transport goods to Asia. C) The land in Siberia is very easy to farm. D) Russia's natural resources are very difficult to use.
A) traditional B) command C) mixed D) market
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) traditional B) mixed C) market D) command
A) Needs to import more products. B) Should import fewer products. C) Exports a wide variety of products. D) Does not need to import or export.
A) supply B) quota C) tariff D) demand
A) mixed economy B) command economy C) traditional economy D) market economy
A) quota B) embargo C) subsidy D) tariff
A) gross domestic product B) opportunity costs C) investment in human capital D) investment in capital goods
A) gross domestic product B) entrepeneur C) opportunity costs D) trade surplus
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) 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) The government controls all businesses. B) Prices and wages are solely regulated by a country's government. 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 mixed economies that are mostly command economies with some elements of market 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 pure command economies.
A) tariff B) exchange rate C) quota D) embargo
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) investment in capital goods C) gross domestic product D) opportunity costs |