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Unit 12 Test Review-Asia Economics
Test Description: Asia Economics
Instructions: Answer all questions to get your test result.
1) In a command economy, how are economic decisions made?
A
Democratic president
B
Government planners
C
Public voters
D
Congress
2) In a market economy, how are economic decisions made?
A
Voting citizens
B
Entrepreneurs
C
Individuals
D
Government Planners
3) Who takes on the financial risk in starting a new business in a market economy?
A
Government planning goups
B
Congress
C
Local businessmen
D
Individual business people
4) Why do most economies in the world today operate somewhere in between a market economy and a command economy?
A
Most economies are more towards a free market than government control
B
Most economies cannot have only a free market
C
Most economies are between a free market and some government control
D
Most economies cannot have only government control
5) The economy of China can best be described as?
A
Traditional
B
Mixed
C
Command
D
Market
6) The Green Revolution was India's attempt to improve?
A
Military
B
Factories
C
Business
D
Agriculture
7) One of the problems resulting from the Green Revolution?
A
Air pollution
B
Increased crops
C
Water pollution
D
Decreased factories
8) One of the most successful parts of India's economy today is?
A
Industry
B
Travel
C
Farming
D
Technology and electronics
9) The economy of Japan can best be described as?
A
Mixed
B
Traditional
C
Command
D
Market
10) Japan's economy could be classified as?
A
One of the most historically significant cities in the world
B
One of the most technologically advanced in the world
C
One of the most traveled cities in the world
D
One of the most industrialized cities in the world
11) The Japanese economy has to make up for the country's lack of?
A
businesses
B
natural resources
C
farmland
D
industries
12) Japanese farmers were able to increase the amount of land they had for farming by doing which of the following?
A
Terracing
B
Building a hydroelectric dam
C
Building islands in the ocean
D
Restrict businesses
13) What is the job of the Ministry of International Trade and Industry?
A
Helping companies hire employees
B
Helping companies decide where to hire employees
C
Helping companies decide what products will sell in the global market
D
Helping companies decide on factory size
14) The economy of North Korea could best be described as mostly?
A
Command
B
Traditional
C
Mixed
D
Market
15) Poor decisions made about how to organize farming in North Korea have resulted in many years of?
A
Poverty
B
Government oversite
C
Starvation
D
Job loss
16) Most major economic decisions in North Korea are made by?
A
Congress
B
Government planners
C
Individual voters
D
Premier Kim Jong-Un
17) Premier Kim Jong-Un has spent a great deal of North Korea's money on?
A
Military
B
Education
C
Business
D
Factories
18) What is the definition of economic specialization
A
Producing goods a country can make easily so they can trade for goods that they cannot produce.
B
A country making a product
C
Producing goods
D
Producing goods and services for other countries
19) What is a tariff?
A
Tax placed on factores
B
A tax placed on goods
C
A tax placed on colleges
D
Tax placed on gas
20) What is a quota
A
A tax on goods
B
A limit to the domestic goods within a country
C
A limit to the the amount of goods within a city
D
A limit to the number of foreign produced goods that are allowed into the country
*select an answer for all questions
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