SE Asia Economies: Question Preview (ID: 12348)


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