Economics of Europe

Front

Russia's economy is...

Back

Mixed

Front

Which country is it hardest to start a business in?

Back

Russia

Front

What is a tariff?

Back

Tax on imported goods

Front

You are on a trip to Germany. You swap your dollars for Euros. Why exchange currency?

Back

To buy or sell goods in Germany; they won't take dollars.

Front

A country that has aspects of a market economy plus a command economy is called a ___________.

Back

Mixed Economy

Front

In which economic system are entrepreneurs MOST likely to exist? Options: Command Economy, Market Economy, Traditional Economy, Communist Economy

Back

Market Economy

Front

The diagram shows an economic continuum. Which letter on the continuum represents where a Pure Market economy would most likely be located?

<-----A------B------------------------------C---------------------------------D-->
Total Government No Government
Control Control

Back

D

Front

Why is it important for a country to invest in human capital?

Back

Countries that invest in the education and training of their people usually have a higher GDP.

Front

Which is an example of a quota?

Back

China allows only 345,000 Ford Mustangs into their country each year.

Front

Which is an example of an tariff?

Back

China charges 7.9% tax on Ford Mustangs imported into their country.