A) free enterprise B) service C) good D) natural resource
A) supply B) demand C) quota D) tariff
A) command economy B) traditional economy C) mixed economy D) market economy
A) How to produce? B) How much to produce? C) What to produce? D) For whom to produce?
A) competition between businesses B) free labor C) government control of industry D) government control agriculture
A) government B) producers C) market D) consumers
A) roads B) factories C) education D) machinery
A) the government B) individuals C) no one D) private businesses
A) through government regulation B) through shortages and surpluses C) through bartering D) through prices and wages
A) mountain B) tariff C) embargo D) quota
A) Russia B) Cuba C) United States D) Germany
A) embargo B) mountain C) tariff D) quota
A) The government provides food and housing to all workers. B) The government provides services, such as telephones and television. C) A person can start any legal business and charge any price. D) Businesses are owned by the government.
A) Individuals made economic decisions based on supply and demand. B) Its economics were controlled mainly by the global economy. C) The central government planned the economy for the entire nation. 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) 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 worker in a factory. B) A leader of a country. C) A person who starts a new business. D) A student in a college.
A) imported goods B) people's income C) people's property D) renewable resources
A) Russia can easily transport goods to Asia. B) The land in Siberia is very easy to farm. C) Russia is the richest nation on earth. D) Russia's natural resources are very difficult to use.
A) traditional B) command C) market D) mixed
A) All are examples of command economies. B) All are examples of mixed economies. C) All are examples of traditional economies. D) All are examples of pure market economies.
A) market B) command C) traditional D) mixed
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) tariff B) supply C) quota D) demand
A) market economy B) traditional economy C) command economy D) mixed economy
A) tariff B) quota C) embargo D) subsidy
A) opportunity costs B) investment in human capital C) gross domestic product D) investment in capital goods
A) gross domestic product B) entrepeneur C) trade surplus D) opportunity costs
A) the United States, the United Kingdom, and Germany B) the United States, Canada, and the United Kingdom C) the United States, Mexico, and the islands of the Caribbean D) United States, Canada, and Mexico
A) Workers are guaranteeded a pay raise every year. B) Basic goods in the country are provided to all people without charge. C) The government controls most of the businesses in the country. D) Companies produce goods of their choice and consumers decide whether to buy the goods.
A) The government controls all businesses. B) A combination of a privately-owned industry and government control. C) Prices and wages are solely regulated by a country's government. D) A country's distribution of resources is based on inheritance.
A) All are examples of pure command 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 mixed economies that are mostly command economies with some elements of market economies.
A) embargo B) quota C) tariff D) exchange rate
A) using currency to pay B) paying for services by check C) charging goods on a credit card D) bartering with a seller
A) gross domestic product B) investment in human capital C) investment in capital goods D) opportunity costs |