SS7E9 SE Asia Government and Economics

What is a tariff?

• a tax on exports

• a tax on imports

• A system in which power lies in a body of citizens

• the total of all goods and services produces

Branch of government that makes laws

• legislative

• judicial

• executive

• all of these

This country has a strong economy, but a only a few natural resources

• China

• India

• North Korea

• Japan

What is the name of Japan's Parliament?

• Congress

• Diet

• Senate

• House of Representatives

Define natural resources

• machinery, equipment and tools a business uses to create a good or service

• the process of starting or managing a business

• knowledge and skills acquired thru education and training

• materials, minerals, water, land and other things found in nature

Which defines a market economy?

• economic system in which decisions are based on supply and demad

• constitutional monarchy

• preventing a foreign product or service from entering a nation (country)

• an autocracy (communist state)

Which best defines entrepreneurship?

• a limit placed on the quantities of items than can be imported

• a ban on trade or other activity with a country

• starting and managing a business

• an autocracy with a command economy

Define "command economy"

• a ceremonial role as head of state

• a system of economics with one person having absolute power

• a democracy where parliament chooses the government

• an economy in which production, investments and prices are determined by the government

Specialization

• an area in which someone concentrates on or is an expert

• starting, organizing or managing a business

• a form of economics where the citizens make decisions

• the total of all goods and services provided by a country in a year

What is a trade barrier?

• taxes on imported goods

• goods and services produced

• a parliamentary democracy's way of controlling the economy

• a means of preventing a foreign product or service from freely entering a nation's territory