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WorksheetsEurope Economics
Total questions: 33
Worksheet time: 19mins
Name
Class
Date
1.
Which condition keeps Russia’s natural resources from being used?
a)
lack of workers
b)
harsh climate
c)
no market for them
d)
no government funding
2.
With its long northern coastline, what makes shipping in Russia so difficult?
a)
The northern ports are blocked by ice much of the year.
b)
Manufactured goods and people prefer to travel by train.
c)
It is used to clean machinery before it is shipped overseas.
d)
It is used for hydroelectric power and transportation of goods.
3.
Which describes the climate of most of Germany?
a)
very cold winters with hot and dry summers
b)
cool summers with land deep in snow most of the winter
c)
cool winters and mild summers with good precipitation for crops
d)
hot summers and cold winters with little precipitation except for winter snow
4.
Which condition is NOT a characteristic of Italy’s Mediterranean climate?
a)
dry summers
b)
clear, blue summer skies
c)
long, cold winters
d)
mild temperatures all year
5.
A similarity between Italy and Germany is that, in both countries, people tend to live in
a)
rural areas
b)
urban areas
c)
the southern region
d)
farming communities
6.
Why does Russia have such a high literacy rate but such a low Gross Domestic Product?
a)
Russians do not want a higher standard of living.
b)
Education is only required for boys, but girls may attend.
c)
There are too many jobs in manufacturing and not enough schools.
d)
The government has always required the children to be educated, but the economy is not as productive.
7.
A person that takes a risk by starting a new business.
a)
human capital
b)
capital goods
c)
entrepreneur
d)
natural resources
8.
Which of the following is NOT one of the three basic questions all economic systems must answer?
a)
What goods should be produced ?
b)
What is the price of the goods?
c)
How should the goods be produced?
d)
Who gets to consume the goods?
9.
The value of all goods and services produced within a country in a year
a)
Total Income Product
b)
Gross Domestic Product
c)
National Income Product
d)
Net Domestic Product
10.
What is one reason that a country could have a high GDP?
a)
Because they have high wages.
b)
Because they have a highly educated population.
c)
Because they have low taxes.
d)
Because they love going to space.
11.
Which of the following is an investment in human capital?
a)
Buying new computers
b)
Paving roads
c)
Purchasing new textbooks
d)
Paying for education and healthcare
12.
Which of the following is an investment in capital resources?
a)
healthcare
b)
new machinery
c)
skills training
d)
universities
13.
Which activity is an example of investing in physical capital?
a)
constructing a new factory
b)
throwing away old delivery trucks
c)
giving workers more time off to rest
d)
training workers to do their jobs better
14.
Which is an example of human capital?
a)
Education
b)
Roads
c)
Factories
d)
Machinery
15.
What are the four factors of production?
a)
land, labor, capital, & entrepreneurs
b)
quota, tariff, embargo, & resources
c)
mixed, market, traditional, & command
d)
earth, sun, moon, & light
16.
What is a mixed economy?
a)
a market-based economy in which the government plays a role
b)
an economic system in which the people make all the economic decisions
c)
people who buy goods and services
d)
an economic system based on traditions
17.
What is a market economy?
a)
a market-based economy in which the government plays a role
b)
an economic system in which the people make all the economic decisions
c)
people who buy goods and services
d)
an economic system based on traditions
18.
What type of economy do most democratic societies have today?
a)
market economy
b)
traditional economy
c)
mixed economy
d)
command economy
19.
A command economy occurs when the _________ is in control of all economic decisions.
a)
society
b)
government
c)
business owner
d)
market
20.
A mixed economy is a combination of ______ and _______ economies.
a)
traditional, mixed
b)
command, traditional
c)
market, command
d)
market, mixed
21.
This occurs when a country forbids trade with another country.
a)
Embargo
b)
Quota
c)
Tariff
d)
Specialization
22.
Actions in this type of economy relate to ritual, habit, and customs.
a)
Traditional
b)
Command
c)
Market
d)
Mixed
23.
Which economy has free enterprise with no government regulations?
a)
Command Economy
b)
Market Economy
c)
Traditional Economy
d)
Mixed Economy
24.
An economy where the government controls what is produced, how it is produced, and who will receive the goods and services.
a)
Command Economy
b)
Market Economy
c)
Traditional Economy
d)
Mixed Economy
25.
This economic system is based on family practices and the use of barter and trade systems instead of currency.
a)
Command Economy
b)
Market Economy
c)
Traditional Economy
d)
Mixed Economy
26.
What is a tariff?
a)
A government order to stop trade
b)
A limit placed on imports
c)
A tax placed on imports
d)
A limit placed on exports
27.
What is an embargo?
a)
A government order to stop trade.
b)
A limit placed on imports.
c)
A tax placed on imports.
d)
A limit placed on exports
28.
What is a quota?
a)
A government order to stop trade.
b)
A limit placed on imports.
c)
A tax placed on imports.
d)
A set price on imports
29.
A(n) ______ system determines what, how, and for whom goods and services are produced.
a)
traditional
b)
resource
c)
economic
d)
trade
30.
How can a country raise its GDP?
a)
raise taxes
b)
invest in education and training
c)
invest in stocks
d)
lower taxes
31.
Russia, Germany, and the United Kingdom all have what type of economic system?
a)
traditional
b)
command
c)
mixed market
d)
pure market
32.
Which country listed below has the weakest economy?
a)
United Kingdom
b)
Germany
c)
Russia
d)
Italy
33.
What was the main purpose for the creation of the European Union?
a)
to eliminate trade barriers
b)
to establish trade barriers
c)
to eliminate free travel between countries
d)
to establish taxes
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