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