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WorksheetsSE Asia Econ Unit Test
Total questions: 10
Worksheet time: 50mins
Which of the statements could explain where China lies on the economic continuum?
Since North Korea has a mostly market economy where entrepreneurs flourish, it is closest to a free market and it allows the citizens to have more control.
Since China is past the 50% mark it is mixed and they are moving towards a more free system because they are opening up more options for entrepreneurs.
Since China is a closed economy their government controls what they can produce, how they can produce, and for whom they can produce.
Since North Korea is closest to command they have more free choice in what is produced, how it is produced, and for whom it is produced.
Which point on the continuum would be the correct place for Japan and why?
At point A because it is not past the 50% mark, which makes it a mixed economy and it is closer to command.
At point A because in Japan people have little say in the production and distribution of goods.
At point B because it is a total free market and people make all of the decisions in the production of and distribution of goods.
At point B because Japan’s economy is dependent on a market based economy despite their strict regulations for entrepreneurship.
India's government has invested heavily in factories, modern machinery, and technology. This investment in is called _____________________.
Human Capital
Capital Goods
Monetary Capital
Currency Exchange
The North Korean government determines what to produce, how to produce and for whom to produce. According to this information, what type of economic system does North Korea fall closest to?
Traditional
Market
Command
Bartering
Why has Japan specialized in the area of technology?
Japan has few natural resources and little room for farming.
Japan has a very poorly educated population.
The country has little in the way of fishing and shipping.
The country uses the money earned to support a large military.
Recently, countries around the world have put trade sanctions on North Korea. What effect are these sanctions supposed to have?
make Kim Jong Un's wife take power
make North Korea turn against China
make North Korea develop atomic weapons
make North Korea stop their nuclear program
Japan is a major exporter of consumer electronics and automobiles. Japan’s international trade in these products is made much easier by __________________.
the use of a worldwide currency
a system to exchange currency between countries
trading only with countries that use the same currency
trade of automobiles for other needed goods so currency is not needed
Japan has been an economic superpower since 1900. Yet Japan is physically isolated and dependent on foreign oil, imported agricultural products, and mineral resources. How can Japan remain so prosperous?
Japan’s population growth has stopped.
Japan receives reduced prices on imports.
Japan has a well-educated skilled labor force.
Japan has a powerful military that influences other countries.
Based the map, which investment would have the most significant impact on China’s GDP?
Purchasing the capital goods to improve mining
Building oil pipelines to receive oil from their coast
Educating their workforce in finances and banking
Training their workforce in engineering and electronics
How are entrepreneurs important to a country’s growth?
Entrepreneurs provide political stability.
Entrepreneurs provide compulsory education.
Entrepreneurs strengthen governmental control.
Entrepreneurs create new markets that provide jobs.
