European Economics

In the United Kingdom, who decides which goods will be produced and sold?

• citizens
• the monarch
• business owners
• the prime minister

Which country owns most of the large and important industries within its borders?

• Germany
• Russia
• United Kingdom
• none of these

Which is least likely to be found in Europe?

• capitalism
• market economy
• command economy
• traditional economy

Which European country has the least free economy?

• Cuba
• Russia
• Germany
• United Kingdom

Because most economies have characteristics of the command economy and the market economy, we say they are?

• free
• hybrid
• mixed
• communist

In which country would it be most difficult for a person to start a business?

• Russia
• Germany
• United Kingdom
• about the same for each

In which countries do buyers and sellers usually come to agreement on prices in order to trade?

• Russia and Germany
• Russia and United Kingdom
• Germany and United Kingdom
• United Kingdom and United States

Which of these issues would make the United Kingdom a more desirable place to start a business than Russia?

• The government in Russia owns most industries
• Russia's court system always protests the rights of property owners
• It takes less time to start a business in Russia than the United Kingdom
• Private citizens and corporations in the United Kingdom decide how goods will be produced.

Which type of trade barrier involves a limit on gods brought into the country?

• quota
• tariff
• embargo
• voluntary exchange

In order to help Russian farmers sell more food, some people want to put a tax on the food imported from other countries. This is an example of ?

• quota
• tariff
• embargo
• voluntary exchange