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Economics Of Europe Part II
Test Description: Test review
Instructions: Answer all questions to get your test result.
1) The UK has found toxic paint in toys imported from China. What type of trade barrier would ensure that no child in the UK will be harmed by these toys?
A
exchange rate
B
tariff
C
embargo
D
quota
2) The US decided to put a limit on the number of European cars that can be imported. This is an example of _________________.
A
a quota
B
a tariff
C
an embargo
D
an exchange
3) Who owns businesses and determine what to produce in a market economy?
A
traditions
B
government and citizens
C
citizens
D
government
4) The science that deals with with the production, distribution, and consumption of goods and services is known as
A
culture
B
economics
C
government
D
literacy
5) In which economic system does the government make all the decisions?
A
command
B
traditional
C
mixed
D
market
6) A number limit on the amount of goods allowed to be imported is a ______.
A
export
B
import
C
tariff
D
quota
7) When customs, practices, and traditions are passed down this is a _______ economy
A
market
B
traditional
C
command
D
mixed
8) Which economic term means 'to make'?
A
consuming
B
distributing
C
producing
D
none of the above
9) A person who purchases an item is performing which activity?
A
producing
B
consuming
C
distributing
D
none of the above
10) Most countries in the world use which economic system?
A
mixed
B
traditional
C
market
D
command
11) What word is a synonym for currency?
A
dollar
B
Euro
C
money
D
Rubles
12) A tax paid on imports is called a ________
A
tariff
B
quota
C
export
D
import
13) Which one of the following is not an example of a market economy?
A
Kroger deciding not to sell coke anymore
B
The dictator of Cuba making all the economic decisions.
C
Businesses choosing what products to produce
D
someone being able to start their own nail salon
14) In a market economy (free market) who decides the prices
A
traditions
B
government
C
supply and demand
D
government and citizens
15) What is an export?
A
a number limit on goods
B
a tax charged on goods
C
products a country buys from another country
D
products a country sells to another country
16) In which country would it be most difficult to start your own business
A
germany
B
united states
C
russia
D
uk
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