SEA Econ Review 1 Question Preview (ID: 24308)


South And East Asia Economics Review Part 1. TEACHERS: click here for quick copy question ID numbers.

This makes trade possible between two countries with different types of money.
a) Gross Domestic Product
b) Standard of Living
c) Exchange Rate
d) Human Capital

This country has an economy where the government makes all of the decisions and owns nearly all the factories and land.
a) North Korea
b) India
c) China
d) Japan

Producing those products and services that your country makes best or most easily.
a) Embargo
b) Tariff
c) Quota
d) Specialization

Investments in factories, machines, technology, and vehicles are called....
a) Human Capital
b) Capital Goods
c) Entrepreneur
d) Gross Domestic Product

Someone willing to take a risk and start a new business or create a product
a) Human Capital
b) Capital Goods
c) Entrepreneur
d) Gross Domestic Product

Economic system where decisions are made based on custom and habit
a) Traditional
b) Command
c) Market
d) Mixed

A refusal to trade with another country, usually for political reasons
a) Embargo
b) Tariff
c) Quota
d) Specialization

A specific amount (or limit) of goods that a country imports:
a) Embargo
b) Tariff
c) Quota
d) Specialization

What type of economic system is found in North Korea
a) Traditional
b) Command
c) Market
d) Mi

Which country has the ability to provide enough food for the people?
a) North Korea
b) China
c) India
d) None of the above

This country has one of the most technologically advanced economies in the world:
a) North Korea
b) India
c) China
d) Japan

Which is not one of the basic economic questions?
a) What to produce?
b) How much to charge for it?
c) How to produce it?
d) Who to produce it for?

India has a focused on education their workforce. This is an example of ______________
a) Human Capital
b) Capital Goods
c) Entrepreneur
d) Exchange Rate

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