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