SS7E7-9: Southern and Eastern Asian Economy

Every country must answer these basic questions when developing its own economic plan EXCEPT

• what goods or services will be produced?

• how will goods or service be produced?

• will this make our country rich?

• Who will consume the goods or service?

How does a traditional economy exchange goods?

• By stealing

• By the government telling the people what to exchange

• By paying for goods

• By bartering- trading without using money

If you were opening a shoe store where you set the prices based on buyer and seller interaction you would be practicing which type of economy?

• Command

• Traditional

• Market

• Democratic

If a country has a low literacy rate it will most likely have

• A lower GDP

• A higher GDP

North Korea's economic system economy is closest to which economy?

• Modern

• Command

• Traditional

• Market

Why do most economies today operate somewhere between a market economy and a command economy.

• Government control makes a market economy more profitable.
• Most consumers prefer government control to a free market system.
• Government control of some aspects of the economy has never been successful in the modern world.
• Most economies have found they need a mix of free markets and some government control to be successful.

Custom and___________ form a ___________ economy.

• Habit, Traditional
• Tradition, Free Market
• Collective Farms, Mixed
• Free Markets, Laissez-faire

When you invest in education and health care, you are investing in----

• capital investment
• human capital
• GDP
• infrastructure 

What is capital investment?

• tax placed on goods
• investing in education, health care
• investing in machines, technology and factories 
• investing in literacy 

There are 4 factors of production that influence economic growth within a country. . .What are they

• 1.Natural Resources available

  2.Investment in Human Capital

  3.Investment in Capital Goods

  4.Foreign Exchange

• 1.Renewable Energy available

  2.Investment in Human Capital

  3.Investment in Capital Goods

  4.Entrepreneurship

• 1.Natural Resources available

  2.Investment in Human Capital

  3.Investment in Capital Goods

  4.Entrepreneurship

• 1.Natural Resources available

  2.Investment in Human Capital

  3.Investment in Capital Goods

  4.Government