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WorksheetsS/E Asia Government and Economies
Total questions: 25
Worksheet time: 13mins
Name
Class
Date
1.
an economic system where the government makes all of the economic decisions
a)
command
b)
market
c)
mixed
d)
traditional
2.
taxes placed on imported goods
a)
tariff
b)
quota
c)
embargo
d)
entrepreneur
3.
limits on the amount (quantity) of a good that can be imported into a country
a)
specialization
b)
tariff
c)
quota
d)
entrepreneur
4.
forbids trade with another country, usually for political reasons
a)
human capital
b)
command economy
c)
embargo
d)
tariff
5.
an economic system where businesses can own resources and determine what and how to produce, but the government regulates certain industries; a combination of market and command economic systems. Most democratic countries fall into this category.
a)
market economic system
b)
command economic system
c)
traditional economic system
d)
mixed market economic system
6.
an economic system where the market determines what will be produced, private businesses (producers) decide how to produce, and the consumers who demand the product determine for whom to produce
a)
command economic system
b)
specialization
c)
market economic system
d)
traditional economic system
7.
an economic system that follows their customs and/or traditions, produces only what is needed to survive or for trade; based on customs and beliefs
a)
command economic system
b)
entrepreneur
c)
mixed economic system
d)
traditional economic system
8.
occurs when one country can produce a good or service at a lower opportunity cost than another country. They can then export the products to other countries.
a)
specialization
b)
embargo
c)
entrepreneur
d)
quota
9.
materials that occur in nature and can be used for economic gains (examples: oil, trees, land, etc...)
a)
human capital
b)
capital goods
c)
natural resources
d)
specialization
10.
a person who comes up with a product or service, or a better way to produce one. They create new jobs and reduce unemployment leading to a higher GDP.
a)
entrepreneur
b)
specialization
c)
quota
d)
embargo
11.
Because most countries do not have the same type of currencies, a system of _____________________ is important for conducting international trade.
a)
specialization
b)
embargo
c)
trade barriers
d)
currency exchange
12.
people who perform labor; investing in ______________ through education and training creates a smarter and more productive workforce, leading to greater economic growth
a)
human capital
b)
natural resources
c)
entrepreneurs
d)
capital goods
13.
factories, machinery, technology, etc..., investing in __________ by providing better facilities, resources, and/or materials creates a more productive workforce, leads to greater economic growth
a)
capital (physical) goods
b)
tariffs
c)
trade barriers
d)
quota
14.
These countries have a Mixed Market Economic Systems.
a)
Japan, India, and China
b)
Japan, North Korea, and China
c)
China, North Korea, and India
d)
India, Japan, and North Korea
15.
Which country is moving away from a Command Economic System to a Mixed Market?
a)
Japan
b)
United States
c)
China
d)
North Korea
16.
Which country is closer to a command economy on the economic continuum?
a)
North Korea
b)
Japan
c)
China
d)
India
17.
Which country receives massive food aid from other countries to avoid widespread starvation?
a)
China
b)
Japan
c)
North Korea
d)
United States
18.
Which country has one of the strongest economies in the world?
a)
Japan
b)
China
c)
India
d)
North Korea
19.
Japan has built their economy around ________________________.
a)
agriculture and ranching
b)
paper products and rice
c)
manufacturing and fishing
d)
rice and wheat
20.
Many people in India are skilled in ____________________________ due to the English and computer skills of many citizens.
a)
library specialist
b)
education
c)
banking
d)
information technology
21.
At the end of WWII, Japan's _______________ was in complete ruins.
a)
land and water
b)
land and economy
c)
air and water
d)
air and land
22.
China, India, and Japan place heavy emphasis on ________________.
a)
education
b)
agriculture
c)
entrepreneurship
d)
the rights and freedoms of their citizens
23.
Entrepreneurship is dramatically
_______________ in China and India.
_______________ in China and India.
a)
declining
b)
rising
c)
shrinking
d)
stagnant
24.
Japan has one of the _______________ rates of entrepreneurship because they face difficulty getting loans.
a)
best
b)
premier
c)
lowest
d)
highest
25.
Japanese companies typically guarantee _______________ employment for their employees.
a)
lifetime
b)
full-time
c)
part-time
d)
temporary
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