European Economics Review

Which is an example of an entrepreneur?

• Someone who operates a hospital daily.

• A person who runs a government-owned coal mine.

• Roofers who work for a business owned by an individual.

• A person who uses his/her money to start a business.

What do the economic systems of the United Kingdom, Germany, and Russia have in common?

• All are examples of pure market economies.

• All are examples of pure command economies.

• All are examples of mixed economies.

• All are examples of traditional economies.

The GDP measures the strength of a country's

• economy

• Olympic athletes

• government

• housing industry

Which is an example of an embargo?

• United States stops all citizens from trading with Cuba.

• China raises the price of televisions they import to the United States

• Ships are turned around when they reach American ports.

• Barges are used to transport goods from Germany to Brazil.

Tariffs are ____ placed on imported goods.

• prices

• taxes

• theft detectors

• not

Pure market economies are found in ___ places in the world.

• zero

• lots

• only a few

• three

Why do most countries have mixed economies?

• Most people favor a mix of free market and limited government control to promote successful economies and consumer protection.

• Most consumers prefer government control over the economy.

• Government planners do now know how to handle complex economic problems.

• Most individuals do not want government interference in the economy.

Bartering is used in which type of economy?

• market

• mixed

• command

• traditional

What is the best definition of a "Quota"?

• limit the supply of a particular product

• sell the same amount of a good to all countries

• only sell to countries that have Queens and Kings

• allow as much of a product in the country as you want

Which country has a command economy?

• Spain

• United Kingdom

• Russia

• North Korea