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WorksheetsEconomic Growth in SE Asia
Total questions: 35
Worksheet time: 21mins
The Japanese economy has to make up for the country’s lack of:
Education
Population
Natural resources
Fish
Poor decisions made about how to organize farming in North Korea have resulted in many years of:
Drought
Farmers refusing to work
Starvation
Arguments about what crops to grow
Which country’s economy has the most government control out of all the countries in the world?
China
North Korea
The United States
Cuba
What is the relationship between adding elements of a market system to a country’s economy and the country’s economic growth?
When there is total government control
When countries lift some government control, they experience economic growth
When countries have no government or citizen control, then they will experience economic growth
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
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.
What does Gross Domestic Product
mean?
The total value of all goods and services a country imports.
The total value of all goods and services a country exports.
The total value of all goods and services produced within a country in one year.
The net loss in profits within a country due to imports.
The___________ a country’s GDP, the better the country’s standard of living.
lower
greater
smaller
answers 1 and 3 are correct
What are the 4 factors that lead to a country’s economic growth?
investment in human capital, investment in physical capital, land (natural resources), entrepreneurship
good international relations, a democratic president, strict laws, freedom of press
a powerful military, strong dictatorial leadership, communist regime, little personal freedom
a monarchy, the World Bank, a parliamentary democracy, personal freedom
What are natural resources?
resources that are gone from nature
resources that are manufactured for the environment
resources that are considered worthless
materials or substances that occur in nature and can be used for economic gain.
Why is it beneficial for a country to have an abundance of natural resources?
countries that have a lot of natural resources are able to use them to produce goods and services cheaper than a country that has to import them. Therefore, a country with a lot of natural resources usually has a greater GDP than a country with little natural resources.
countries with a lot of natural resources are usually taken over by other countries and don't have to worry about paying for anything
they cannot become communist
there is no advantage since most natural resources are worthless
What does human capital mean?
the place where the most people live within a country
the place where the most work is performed within a country
the people who perform labor (work)
the building where most people work in a country or state
Why should countries invest in developing human capital?
because the more people you have working in one area like a capital the more productive it will be
it leads to a lower GDP
it leads to lower literacy rate
investment in the education and skills training of people creates a smarter and more productive workforce, which relates to a higher GDP.
What are capital goods?
goods that are produced in the capital
the factories, machinery, and technology used to produce goods and services
goods that are produced without natural resources
goods that are produced by the government
Why should countries invest in developing capital goods?
they shouldn't, it is too expensive
because capital goods cannot be sold to other countries
when countries invest in capital goods, they are providing better facilities, resources, and/or materials for the people who perform the labor, which creates a more productive workforce leading to greater economic growth (higher GDP).
because capital goods are less expensive than private goods
What do entrepreneurs do?
represent business at the capital
make all the laws in regards to business
start their own business, invent something new, or change the way something was previously done so that it works better
work in politics with regards to foreign business
How does entrepreneurship influence economic growth?
it creates jobs and reduces unemployment
it encourages people to take risks,and in doing so, create better materials, products, and technologies
the more entrepreneurs a country has, the higher the country's GDP
answers 1,2,and 3 are all correct
What can be an impact of a rising literacy rate within a nation?
A) Fewer government positions needed.
B) An improved quality of life with better jobs.
C) A decrease in the quality of life.
D) A decrease in the nation's economy.
The knowledge and skills possessed by people that places value on them in the job market is __________________.
A) human capital
B) capital goods
C) GDP
D) trade
The things that nations invest in to increase productivity and manufacture things more efficiently are ____________________.
A) natural resources
B) capital goods
C) trade barriers
D) Gross Domestic Product
A garbage truck driver is an example of which Factor of Production?
human capital
land (natural resources)
entrepreneurship
capital
Iron, minerals, coal and plants are examples of which productive resource?
natural resources
labor
entrepreneurship
capital
What is GDP per capita?
measurement of capitals a country has
measurement of of all the natural resources within a country
measurement of the annual income of citizens in a specific country
How much the president of every country makes
How do you measure the strength of a nation's economy?
Adding up how many natural resources it has
Looking at a nations GDP and GDP per capita
Adding up how many entrepreneurs a nation has
Asking all citizens to complete the census every 10 years
Which SE Asian country does not follow the regular theory that a high literacy rate usually equals a high standard of living?
India
South Korea
China
North Korea
What does obsolete mean? This is what describes North Korea's capital goods.
old
modern
new
perfect
If someone says that the country of China is worth over $12 trillion dollars, they are talking about their
human capital
GDP
capital goods
GDP per capita
If someone says that Japan's citizens make an average of $48,919 a year, they are describing Japan's....
natural resources
GDP per capita
capital goods
GDP
A nation with a high GDP typically does not invest in human capital, while a nation with a low GDP does invest in human capital.
TRUE
FALSE
Which of the following will likely raise the GDP of a country?
picking trade partners
tariffs and banking
imports and exports
investing in new technology
