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