Font size
WorksheetsGovernment and Economy of Europe Review
Total questions: 92
Worksheet time: 1hrs 20mins
Who chooses the Prime Minister in UK?
A.) The People of the UK
B. )Parliament with Queens blessing
C.) no one, born into power
Benefit of the EU is ___________.
A.) free trade
B.) common currency (Euro)
C.) open borders
D.) all of the above
In the Russian Federation (Federal Republic), the people elect the ___________________ who the selects the ____________________.
Chancellor, prime minister
President, prime minister
Prime minister, president
President, chancellor
To be prime minister in UK, a person must first be elected to which governing body?
Congress
Privy Council
House of Lords
House of Commons
* The lawmaking bodies are divided into 2 houses.
Which statement best explains what it is about?
Benefit of the EU is ___________.
A.) free trade
B.) common currency (Euro)
C.) open borders
D.) all of the above
Which action is most likely to help the Russian economy grow?
Update old manufacturing plants with new technology.
Increase government restrictions on trade.
Allow more private ownership of resources.
Of the three countries studied, which one has the strongest economy in Europe?
United Kingdom
Russia
Germany
Of the three countries studied, which country collects higher taxes to pay for programs and services for poorer citizens?
United Kingdom
Germany
Russia
Of the three countries studied, which one is the most market leaning?
United Kingdom
Russia
Germany
Of the three countries studied, which one is the most command leaning?
United Kingdom
Russia
Germany
19. Which is the phrase used to represent human capital?
materials or substances from nature
people with new ideas
talent and skill of people
man-made materials needed to produce
Which statement best describes the role entrepreneurs play in a country’s economy?
Entrepreneurs seek to limit businesses through government regulations.
Entrepreneurs help support the economy by saving their money in a bank.
Entrepreneurs help to keep the economy stable by being good employees.
Entrepreneurs help the economy grow by innovating and starting new businesses.
A country that has aspects of a market economy plus a command economy is called a ___________.
Traditional Economy
Command Economy
Market Economy
Mixed Economy
In which economic system are entrepreneurs MOST likely to exist?
Command Economy
Market Economy
Traditional Economy
Communist Economy
What are the advantages and disadvantages of a command economy?
The government provides for basic needs, but choice is limited.
The government is not involved in production, consumption, or distribution. Many choices available
Mix between government control and private business. Limited government regulation of industry.
Businesses are based on tradition and choices are limited. People barter for goods.
Who or what answers the economic questions of “What to Produce? How to Produce? For Whom to Produce?” in a mixed economy?
Decisions are based on the traditions and customs of the society.
Decisions are made by the government.
Decisions are made by individual producers and consumers.
Decisions are made by a combination of the government and individuals.
Why is it important for a country to invest in human capital?
All humans need capital to survive
Starting your own business is good for the economy
Countries that invest in the education and training of their people usually have a higher GDP
Countries that invest in new technology and machinery produce more and have a higher GDP
Which is an example of a quota?
China allows only 345,000 Ford Mustangs into their country each year.
China charges 7.9% tax on Ford Mustangs imported into their country.
China refuses to buy Ford Mustangs from the USA.
China puts a tax on all exports to the USA.
Which is an example of an embargo?
China allows only 345,000 Ford Mustangs into their country each year.
China charges 7.9% tax on Ford Mustangs imported into their country.
China refuses to buy Ford Mustangs from the USA.
China puts a tax on all exports to the USA.
Which is an example of an tariff?
China allows only 345,000 Ford Mustangs into their country each year.
China charges 7.9% tax on Ford Mustangs imported into their country.
China refuses to buy Ford Mustangs from the USA.
China puts a tax on all exports to the USA.
What does it mean for a business to specialize in a particular good or service?
Countries should import resources to produce their goods at higher prices.
Countries should use their own resources to produce goods more efficiently and at lower prices.
Countries should produce as many different things as they can. They should be good at everything.
Countries should not worry about specialization because it leads to increased prices and less competition.
Lisa started a small business selling t-shirts. She used her home as the place to start the business. She purchased the shirts from a company in Haiti. After selling a large amount of t-shirts, Lisa hired her cousins to help package and ship the t-shirts to customers.
In this scenario, Lisa would be an example of a(n) ________________.
Entrepreneur
Natural Resource
Human Capital
Physical Capital
In this scenario, the cousins that helped package and ship the t-shirts are examples of _____________.
Entrepreneur
Natural Resource
Human Capital
Physical Capital
The soil and water used to grow the cotton to make the t-shirts are examples of _________________.
Entrepreneur
Natural Resource
Human Capital
Physical Capital
Which are examples of physical capital?
Iron ore, silver, wood, diamonds.
On the job training, public education.
Technology, machinery, buildings, tools.
Starting your own business or inventing something new.
How does literacy rate affect standard of living?
It has no effect.
The lower the literacy rate the higher the standard of living.
The higher the literacy rate the higher the standard of living.
The higher the literacy rate the lower the standard of living.
What is standard of living?
The level of material comfort as measured by the goods, services, and luxuries available to an individual, group or nation.
The level of goods measured by how many individuals, groups, or nations export each year.
The measure of how long you live.
The measure of how long you stay in school.
What is Gross Domestic Product?
The value of all goods and services imported into a country in a year.
The value of all the services provided within a country in a year.
The value of all goods produced in a country in a year.
The value of all goods and services produced in a country in a year
Use this chart to answer questions 19 and 20.
Country Brazil Canada
GDP per $15,600 $45,600
capita
Unemployment 6% 7%
Rate
Infant Mortality 18.6% 4.5%
Rate
Life 74 82
Expectancy
Literacy 92.6% 99%
Rate
According to the chart which country has the highest percentage of people able to read and write?
Brazil
Canada
How does a command economic system answer the three economic questions?
The government makes all decisions
The people make all decisions
The people and government make decisions together
A dictator makes the decisions
Even though Germany has a strong economy, what problem is it currently facing?
Reunification caused West Germany's economy to experience a major set back when it absorbed East Germany's economic problems.
Many refugees are fleeing to Germany, and there aren't enough resources for the change in population.
Germany is moving away from a command economy and closer to a market economy.
The government is making all of the decisions, and the people want to have a voice.
How has Russia's economy changed since the fall of the communist Soviet Union?
The government has created more jobs for the people.
The economy has gotten stronger since reunification.
It has been moving away from a command economy and working towards a free market.
It has been moving away from a free market economy and working towards a command economy.
There are 4 basic factors that influence economic growth in any part of the world. They include human capital, natural resources, entrepreneurship and ____.
GDP
capital goods (physical capital)
standard of living
literacy rate
