European Economics Review

Front

What do the economic systems of the UK, Germany & Russia have in common?

Back

all are mixed economies

Front

What is the purpose of currency exchange between countries?

Back

It creates fairness for trade between countries

Front

Which of the following explanations would reflect a country with a mixed economy?
Options:
Prices and wages are solely regulated by a country’s government,
A combination of privately-owned industry and government control,
A country’s distribution of resources is based on inheritance,
Prices and wages are determined by the laws of supply and demand rather than being regulated by a country’s government

Back

A combination of privately-owned industry and government control

Front

What 3 economic questions are asked when studying the similarities of a traditional, command and market economy among nations of the world?

Back

What to produce, how to produce, and for whom to produce?

Front

Germany is building new factories and using newer technology. What are these examples of?

Back

Investment in capital goods

Front

What would Pierre be an example of? Frank is an auto mechanic in a nearby larger town. He has decided his own small town needs its own car repair shop. Frank bought the building and opened his shop.

Back

entrepreneur

Front

As with any small island country, Ireland has fewer natural resources than countries such as Russia. How does this affect Ireland?

Back

Needs to import more products