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SE Asia Economies
Test Description: SE Asia Economies
Instructions: Answer all questions to get your test result.
1) In a traditional economy, how are economic decisions made?
A
combination of consumers and government planners
B
government planners
C
custom and habit
D
consumers and the market
2) Which of the following would be a problem for a country with a traditional economy?
A
People need things and are unable to barter to obtain them
B
The supply of cash runs short in times of economic crises
C
A farmer having an especially good year with lots of grain to trade
D
People find they can trade services more easily than they can trade goods
3) In a command economy, how are economic decisions made?
A
custom and habit
B
consumers and the market
C
Government planners
D
combination of consumers and the market
4) In a market economy, how are economic decisions made?
A
government planners
B
custom and habit
C
Individuals
D
consumers and the market
5) Who takes on the financial risk in starting a new business in a market economy?
A
government planners
B
consumers
C
individual business people
D
combination of government planners and individual investors
6) Why do most economies in the world today operate somewhere in between a market economy and a command economy?
A
Government control makes a market economy more profitable.
B
Government control of some aspects of the economy have never been successful in the modern world.
C
Most consumers prefer government control to a free market system.
D
Most economies have found they need a combination of free market and some government control
7) Which of our focus countries has more of a command economy?
A
China
B
Japan
C
North Korea
D
India
8) Which of our focus countries has more of a market economy than the others?
A
China
B
India
C
North Korea
D
Japan
9) In what industry do about 50% of China'a population work?
A
rockets
B
farming
C
toys
D
satellites
10) About 60% of India's population do this for a living?
A
telecommunications
B
make movies in Bollywood
C
farming
D
Engineers and computer science
*select an answer for all questions
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