SE Asia Economy bcms

If Japan’s government puts a limit on how much Vietnamese rice it will import this year, what trade barrier is this?

• Embargo

• Tariff

• Quota

• Opportunity Cost

Which trade barrier sets up a complete ban on trading between countries?

• mountain

• tariff

• quota

• embargo

What is an example of a physical trade barrier in Southeast Asia?

• Quota on South Korean televisions

• Tariff on Japanese cars

• Gobi desert

• Embargo on North Korea

In a command economy, economic decisions are made by the ___________.

• consumers

• market

• government

• producers

Why do most countries in the world today fall somewhere between a market and a command economy?

• Some government control has never been successful.

• Government control always makes a market economy more profitable

• Most consumers prefer government control to free market.

• A. Most countries have found they need a mix of free market and government control to be successful

Which of the following BEST describes a market system?

• The government provides services, such as telephones and television.

• A person can start any legal business and charge any price.

• The government provides food and housing to all workers.

• Businesses are owned by the government.

Most democratic nations have _______ economies.

• mixed

• traditional

• command

• market

Why does specialization make trade between countries easier?

• There will always be a steady supply of goods on the market so trade is not needed

• Countries can produce what they make best and trade with others for what they need

• A country’s economy will never go through a difficult time if they specialize in a good.

• The competition between countries will not exist

What is a main reason for people to exchange currency?

• to have foreign money

• to use American dollars to trade

• to make more money by trading currencies

• to buy and sell goods and services with other countries

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

D. A country’s economy is more successful when workers have good education and health

• A country needs money in order to pay its workers.

• Workers enjoy getting extra training and job opportunities.

• Businesses cannot do all the training needed by workers to be successful.

• A country’s economy is more successful when workers have good education and health care.