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