WorksheetsSW Asia Economics
Total questions: 49
Worksheet time: 26mins
Tariffs, quotas, and embargoes are examples of
GDP
trade barriers
economy
goods and services
Tools used in the production of goods and services
Captial goods
Human Captial
Natural Resources
Education
Something that comes from the Earth or nature that is useful to humans.
Natural Resources
Capital Goods
Human Capital
Embargoes
Voluntary exchange of goods and services among people and countries
Embargo
Trade Barriers
Tariffs
Trade
An economy that depends on agriculture and bartering, where decisions are often made based on long-held customs, beliefs, or habits
Command Economy
Traditional Economy
Market Economy
Mixed Economy
An eonomy where decisions are made at an individual, rather than a government level
Command Economy
Traditional Economy
Market Economy
Mixed Economy
When a country focuses on producing the goods and service they can make and trading for what they are unable to produce.
Trade barrier
Specialization
Exchange Rate
Trade
An economy where government planning groups make the basic economic decisions
Traditional economy
Command economy
Market economy
Mixed economy
Economies of all countries today have characteristics of both command market economies
Traditional economy
Market economy
Command economy
Mixed economy
The price of one nation's currenct in tems of another nation's currency.
Exchange rate
Exchange
Trade
Embargo
A government order stopping trade with another nation's currency.
Trade barrier
Embargo
Trade
Tariff
A tax on imports
Embargo
Excange Rate
Trade
Tariff
The education, training, skills, and health of the workers in a business or coutnry
Human Capital
Natural Resources
Capital Goods
Capital Resources
A specific limit placed on the number of imports that may enter a country
Embargo
Tariff
Quota
Trade
The total value of the final goods and services produced within a country in one year.
Per capita GDP
GDP (gross domestic product)
Economy
Mixed Economy
The ability to organize, manage, and take on the risks of a business or enterprise.
Trade
Entrepreneurship
Human Capital
Specialization
What type of economic systems do most countries in the world have?
Mixed moving to Market
Market moving to Mixed
Command moving to Mixed
Command moving to Market
When countries invest in human capital their GDP
goes up
goes down
is neutral
When countries invest in education and training
human capital goes down
human capital goes up
capital goods go up
capital goods go down
3 examples of Captial goods:
trucks, computers, humans
computers, computer classes, humans
trucks, humans, trees
trucks, computers, factories
Which country has the highest standard of living?
Israel
Turkey
Saudi Arabia
Which country has the highest literacy rate?
Israel
Turkey
Saudi Arabia
Which country has the highest GDP per capita?
Israel
Saudi Arabia
Turkey
On the economic continuu, a pure command falls ______________
on the far left
on the far right
right in the middle
In Southwest Asia (the Middle East) and anywhere else in the world, no country has every productive resource available in endless supply? True or False
True
False
Most countries in Southwest Asia have what kind of economy?
traditional
command
pure
mixed
A command economy is based on what?
cultures and values
dictated by government controls and regulations
control of the citizens
king and queen demands
Mixed economies fall somewhere in between pure command and pure market on the continuum? True or False
True
False
A market economic system is based on what?
dicatorship by the government,
long-standing customs and values
what customers want to buy and producers want to sell
both what the citizens want and government regulated
What are the 3 questions countries need to ask in when setting up their economic system up?
what to produce, where to produce, how to produce
what to produce, who is going to produce it, how to produce
what kind of producing, where to produce, how to produce
what to produce, how to produce, for whom to produce
Natural resources play a key role in?
any country's economy
ways to live
control farming
investments and standard of living
What are the traditional, command, and market economic questions?
(1) what to produce ,(2) how to produce, and (3) for me to produce.
(1) citizens to produce ,(2) how to destroy, and (3) for whom to produce.
(1) when to produce ,(2) where to produce, and (3) for whom to produce.
(1) what to produce ,(2) how to produce, and (3) for whom to produce.
What are Turkey's cheif exports?
purple cows, foodstuffs, fortnite, metal manufactures, transport equipment
apparel, foodstuffs, textiles, metal manufactures, transport equipment
candy, foodstuffs, textiles, metal manufactures, transport equipment
apparel, french food, textiles, metal manufactures, transport equipment
