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WorksheetsSocial Studies Economics review.
Total questions: 27
Worksheet time: 16mins
What country is 5% market and 95% command.?
China
North Korea
South Korea
Both North Korea and China.
What country is 53% free and 47% command.?
North Korea
India
Japan
China
India is a (a) democracy.
Sally lives in a traditional economy. She trades, but not with money. This is called...
Giving
Selling
Bartering
Trading
North Korea is an..
Autocracy
A parliamentary democracy
A presidential Democracy
Monarchy
South Korea is an _____________ _________
(a)
Who answers the 3 economic questions in a traditional economy.?
Nobody
The government
It's Based on customs and beliefs
The Prime Minister
1. An Oligarchy.
2. Ran by the Chinese Communist party (CCP)
3. The president is currently Xi Jinping.
Asia
China
Japan
Turkey
Kaedynn is 12. In her country, the people vote DIRECTLY for the president. Where does Kaedynn Live?
South Korea
North Korea
Japan
Saudi Arabia
A market leaning economy means
Your country is half free and half command
Your country is more than half command
Your country is fully command
Your country is more than 50% market
Click on the country that has an Autocracy and is command leaning.
China (53% market)
India (53% market)
North Korea (5% market)
Japan (73% market)
Is Japan a parliamentary democracy?
Kensleigh and Ms. McLaughlin live in North Korea. The people are unable to vote for their leader and not allowed to voice their opinions. Which of the answer choices below explains why they aren't allowed to vote?
The country has a dictator and the role is inherited from father to son.
The country has a president and the role is chosen by a small group of people only.
The country has a dictator and the role is chosen by the citizens.
The country has a president and he is immortal so he stays leader.
For 10 points, how does the president get chosen in an parliamentary democracy?
The citizens vote directly for the president.
The citizens elect the/a legislature and the legislature chooses the president.
Only Tanya and Lindsey get to vote for the president.
People don't choose a leader and their country has no laws.
What is an oligarchy and what country has one?
An oligarchy is a form of government where a big group of people have control. Japan is an oligarchy.
An oligarchy is a form of government where a medium sized group of elected members have control. India is an oligarchy.
An oligarchy is a form of government where a small group of members have control who are chosen by the CCP (Chinese communist party). China is an oligarchy.
An oligarchy is a form of government where a small group of members have control who are chosen by the CCP (Chocolate cake party). Guatemala is an oligarchy.
In a command economy, who chooses how to answer the three economic questions?
The people.
It's based on customs and beliefs.
The government.
TRUE OR FALSE: True or false, The people choose how to answer the three economic questions in a market economy?
TRUE.
FALSE.
Which of these are correct? Choose all the correct answers.
In a command economy, the government is in charge and makes all the economic decisions.
In a market economy, consumers are in charge and make economic desicions by spending money on goods and services they need/want.
In a turkish economy, turkey's rule the world and if you disrespect them, you are thrown into jail. you NEVER eat a turkey or you will be beheaded.
In a traditional economy, things are done as they have been done in the past (Traditionally). The answers are provided by ancestors.
Since no country has a pure comman or pure market economic system, most economies combine both apsects of these economic systems. Which side does an economy HAVE to lean?
An economy has to be market leaning.
An economies spot on the economic continuum is chosen by the countries leader and form of government.
An economy has to be DEAD in the middle (50 50)
An economy has to be command leaning.
What is specialization?
Specialization is when one nation can produce a good or service at a lower opportunity cost than other nation(s).
Specialization is when a dog specializes in doing a certain trick. The dog knows what the trick will get him (Most likely treats) so he continues to do it better each time.
What is a tariff?
A tariff is a tax placed on imported goods.
A tariff is a block on all trade with another country.
A tariff is a set limit of the amount of a certain item being imported.
What is a quota?
A quota is a set time frame to be home before your curfew.
A quota is a set limit of the amount of a certain good allowed to be imported into the country.
A quota is a giant jellybean.
Coach Tiller is a quota.
An order designed to stop trade.
An embargo
A quota
A tax
A limit
(a) stands for the organization of petroleum exporting countries. The role of this organization is to influence the price of oil on world markets.
What is human capital?
Human capital is education and training of workers either formal or on the job.
Human capital is the income a person makes.
Human capital is the number of leaders a country has.
GDP(_____ ________ _______) is the total value of all goods and services produced witihin a country in a year.
(a)
Which is an example of entrepreneurship?
Sally getting hired.
David making an income.
Ling opening her own business.
Tyler getting a medical degree.
