WorksheetsEconomies & Govt. Systems of South & Eastern Asia
Total questions: 25
Worksheet time: 13mins
What are Trade Barriers?
Trade Barriers are physical assets that a company uses in the production process to manufacture products and services that consumers will later use.
Trade barriers are government-set, artificial restrictions on the trade of goods and/or services between two countries.
Trade Barriers are known as the total monetary and/or market value of all the finished goods and services produced within a country’s borders in a specific time period.
What is the relationship between GDP and Standard of Living?
The connection between Gross Domestic Product (GDP) and standard of living lies in the fact that the GDP serves as an economic tool for measuring the population of individuals in a country.
The connection between Gross Domestic Product (GDP) and standard of living lies in the fact that the GDP serves as an economic tool for measuring the standard of living in a country.
The connection between Gross Domestic Product (GDP) and standard of living lies in the fact that the GDP serves as an economic tool for measuring the amount of money in a year.
What are the Factors of Production?
Land
Capital
Entrepreneur
Labor
Money
Investment in infrastructure affects the standard of living since it has to be up to date to improve the standard of living for the people.
True
False
India has a high GDP, but its standard of living is low because ______________ is found by dividing the ________ by population. India's population is very ____.
Standard of Living; GDP; High
Standard of Living; GDP; Low
Standard of Capital; Services; High
None of the above
If countries specialize in what they are best at producing, the output should be higher and hence their citizens should enjoy higher living standards.
True
False
South Korea
Dictatorship
Parliamentary Democracy
Presidental Democracy
Constitutional Monarchy
Autocratic
North Korea
Dictatorship
Parliamentary Democracy
Presidental Democracy
Constitutional Monarchy
Autocratic
China
Dictatorship
Parliamentary Democracy
Presidental Democracy
Constitutional Monarchy
Autocratic
India
Dictatorship
Parliamentary Democracy
Presidental Democracy
Constitutional Monarchy
Autocratic
Japan
Dictatorship
Parliamentary Democracy
Presidental Democracy
Constitutional Monarchy
Autocratic
Productive resources are the materials and labor used to create goods and services. What are the factors of productive resources?
Natural Resources
Human Capital
Capital Goods
Entrepreneurship
China Voting Age
18
19
17
North Korea Voting Age
18
19
17
South Korea Voting Age
18
19
17
India Voting Age
18
19
17
Japan Voting Age
18
19
17
The ________ is the chief executive and is the ________ ranking administrative official in _______ government
China Communist Party; lowest; China's
Premier; highest; North Korea's
Premier; lowest; China's
Premier; highest; China's
What is Japan's currency?
Yen
Yuan
Won
Rupee
What is India's currency?
Yen
Yuan
Won
Rupee
What is China's currency?
Yen
Yuan
Won
Rupee
What is North and South Korea's currency?
Yen
Yuan
Won
Rupee
Japan's bicameral legislature is called the...
Senate
Diet
House of State
House of Representatives
When does Voluntary Trade occur?
It occurs when only rural areas choose to engage in the exchange of citizens with one another.
It occurs when different countries choose to ban trade in the exchange of goods with one another.
It occurs when different countries choose to engage in the exchange of goods with one another.
Buyers and sellers freely and willingly exchanging goods and services with each other is Voluntary Trade.
True
False
