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

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

• Y

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

• Z

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

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