Winter final 2018b

Match it! Select the correct answer from the pull down...Good luck!

A tariff is a form of taxation on foreign products, while a quota is a ______ on imports from foreign countries.

Which nation experienced a communist revolution in the years immediately following World War II?

Despite having one of the largest economies in the world (based on nominal GDP) what problem faces Japan that could affect its economic growth?

Government owns the factors of production • Government answers the question of who, what and how to produce • Government eliminates choice and competition What type of economic system is described?

Which philosophy came from China and later adopted by Japanese warriors because it emphasized obedience and social harmony?

A tariff is a tax on ___.

India remained under the authority of Britain until the late 1940s when it adopted a Constitution and proclaimed itself a

· It is one of the most successful market economies in the world today. · Its economy is the second largest in the world, with $4.5 trillion in GDP. · Because of its physical geography there is little land available for farming, so it is highly ind