Economic Growth in SE Asia

The Japanese economy has to make up for the country’s lack of:

• Education

• Population

• Natural resources

• Fish

Poor decisions made about how to organize farming in North Korea have resulted in many years of:

• Drought

• Farmers refusing to work

• Starvation

• Arguments about what crops to grow

Which country’s economy has the most government control out of all the countries in the world?

• China

• North Korea

• The United States

• Cuba

What is the relationship between adding elements of a market system to a country’s economy and the country’s economic growth?

• When there is total government control

• When countries lift some government control, they experience economic growth

• When countries have no government or citizen control, then they will experience economic growth

India's government has invested heavily in factories, modern machinery, and technology. This investment in is called _____________________.

• Human Capital

• Capital Goods

• Monetary Capital

• Currency Exchange

Japan has been an economic superpower since 1900. Yet Japan is physically isolated and dependent on foreign oil, imported agricultural products, and mineral resources. How can Japan remain so prosperous?

• Japan’s population growth has stopped.

• Japan receives reduced prices on imports.

• Japan has a well-educated skilled labor force.

• Japan has a powerful military that influences other countries.

Based the map, which investment would have the most significant impact on China’s GDP?

• Purchasing the capital goods to improve mining

• Building oil pipelines to receive oil from their coast

• Educating their workforce in finances and banking

• Training their workforce in engineering and electronics

How are entrepreneurs important to a country’s growth?

• Entrepreneurs provide political stability.

• Entrepreneurs provide compulsory education.

• Entrepreneurs strengthen governmental control.

• Entrepreneurs create new markets that provide jobs.

What does Gross Domestic Product

mean?

• The total value of all goods and services a country imports.

• The total value of all goods and services a country exports.

• The total value of all goods and services produced within a country in one year.

• The net loss in profits within a country due to imports.

The___________ a country’s GDP, the better the country’s standard of living.

• lower

• greater

• smaller

• answers 1 and 3 are correct