Southern and Eastern Asia Economic Systems

Match each letter with the BEST description of the type of economy that would exist at that point on the spectrum.

• X

• Most major industries are controlled by the government and there is little protection of private property rights.

• Y

• The government regulates major industries to protect the environment and the rights of workers.

• Z

• There are few barriers to entry into most industries and most economic decisions are determined by the forces of supply and demand.

What type of economic system is most prevalent in Southern and Eastern Asia?

• Mixed economy

• Command economy

• Traditional economy

• Market economy

Which country in Eastern Asia is known for its rapid economic growth and technological advancements?

• Japan

• North Korea

• Mongolia

• Bhutan

What is a key characteristic of a command economy, often seen in some Asian countries?

• Government controls all major aspects of the economy

• Private businesses operate freely

• Economy is based on customs and traditions

• Supply and demand determine production

Which Southern Asian country is known for its IT and software services industry?

• India

• Nepal

• Sri Lanka

• Bangladesh

What is the primary economic activity in rural areas of Southern Asia?

• Agriculture

• Manufacturing

• Mining

• Tourism

Which Eastern Asian country has a significant influence on global fashion and entertainment industries?

• South Korea

• Laos

• Myanmar

• Cambodia

What economic challenge is common in many Southern and Eastern Asian countries?

• Income inequality

• Lack of natural resources

• High unemployment

• Low literacy rates

Which country in Southern Asia has a mixed economy with both private and public sector involvement?

• India

• Maldives

• Bhutan

• Afghanistan

What is a major export product of Thailand, contributing to its economy?

• Rice

• Oil

• Electronics

• Automobiles