Southern and Eastern Asia: Economics

What is one key factor that is responsible for Japan's greatest economic success?

• longer vacations

• abundant natural resources

• specialization in technology

• robots do all of the jobs

This economic system involves the government determining what and how much will be produced

• market

• command

• traditional

• mixed

Most economies in the world today are ________.

• market

• command

• traditional

• mixed

_______ is when a country is able to focus on a few easily produced goods and then trade them for goods made by others.

• Traditional economy

• Specialization

• Tariff

• Quota

A _______ is a trade barrier in which a government places a tax on imported goods.

• embargo

• tariff

• quota

International trade is made possible by ________.

• embargoes

• tariffs

• quotas

• currency exchange

Japan's economy is mostly made up of _____.

• technology

• agriculture

• public education

• military spending

India continues to invest in capital goods and human capital to overcome what problem?

• No farming

• Caste system

• poverty

• Small military

This economic system makes decisions based on traditions and family customs/rituals.

• market

• command

• traditional

• mixed

This economic system relies on buyers and sellers to make economic decisions.

• market

• command

• traditional

• mixed