SE ASIA Government & Economics Review

The biggest role in determining the answers to the basic economic questions in a traditional economy is determined by?

• custom and tradition

• supply, demand, and cost

• government intervention and planning

• entrepreneurship

Higher education in China has changed their gross domestic product (GDP) in which way?

• China's GDP has decreased.

• China's GDP has increased.

• China's GDP has stabilized.

• China's GDP has fluctuated.

An increase in an individual's literacy rate, equals an increase in?

• GDP

• market types

• standard of living

• capital goods

Based on the picture, in which country is it MOST LIKELY the easiest to become an entrepreneur?

• India

• China

• North Korea

• South Korea

Which country's economy is closest to a pure command economy?

• India

• Japan

• North Korea

• South Korea

Which country's economy is closest to a pure market economy?

• India

• China

• North Korea

• South Korea

Which Asian nation's economy suffers because it's government has strict regulations on it's economy and it can neither sell its natural resources in world markets nor purchase the resources it lacks?

• China

• Japan

• North Korea

• South Korea

Japan is very mountainest with long coastlines and little arable land, therefore Japan...

• relies on natural resources found in the ocean.

• heavily restricts fishing in order to protect its resources.

• limits imports from countries with similar resources.

• restricts the sale of seafood to other countries.

What decision shows that China is moving away from a command economy and more towards a market economy?

• government controlling the oil industry

• government censoring digital content

• government charging high taxes to pay for infrastructure

• government freed up regulations and is allowing farmers to make their own decisions

Which country would you expect to see the MOST government control in the economy?

• China
• Japan
• North Korea
• India