Southeast Asia Economic Systems

Most countries in Southeast Asia have this type of economy

• Market

• Command

• Traditional

• Mixed

What are the three economic questions that every country must answer when developing an economic plan?

• How much will be produced?

  What type of economy will be established such as traditional, command or market.

  What color currency will be printed?

• What products will be passed down from generation to generation

  What customs will be inherited?

  What color flag will be produced?

• What goods/services will be produced?

  How will goods/services be produced?

  Who will consume the goods/services?

• What resources does a country have?

  How can they produce those resources for other countries?

  Who will be willing to produce the resources needed?

What are the characteristics of a Traditional Economy? Choose all that apply

• Based on customs and beliefs

• Some still exist in rural villages in Asia

• Are always under government control

• Passed down from generation to generation

On the above economy continuum graph where would a country like China be located

• Between a mixed economy and command economy

• Almost to a pure command economy

• Almost to a pure market economy

• Between a mixed economy and market economy

Which of the following would explain the growth in Singapore's economy over time?

• They are a democractic government

• They have become an important port for world trade

• Overcrowding in Vietnam led to migration

• Lack of agricultural products throughout Southeast Asia

Southeast Asia has many waterways & ports which encourages what economic activity?

• Trade

• Retail

• Wholesale

Which rapidly growing industry in the countries of Southeast Asia is best described by these characteristics?

• Subsitence Farming

• Outsourcing

• Information Technology

• Ecotourism

Laos is a landlocked country. Which of the following describes an action the government of Laos has taken to overcome its lack of coastal water?

• Laos invests heavily in natural resource production to make it less reliant on other countries.

• Laos has invaded Myanmar and Vietnam numerous times.

• Laos promotes religious tolerance and freedom in order to improve relations with other countries.

• Laos has constructed rail lines and a communication infrastructure to connect it to other countries.

Which Southeast Asian country is known for having a predominantly market-based economy?

• Vietnam

• Singapore

• Laos

• Myanmar

What is a common feature of mixed economies in Southeast Asia?

• Complete government control

• No government intervention

• Combination of private and public sectors

• Only traditional practices