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