Unit 12 Test Review-Asia Economics Question Preview (ID: 37715)

Asia Economics.

One of the most successful parts of India's economy today is?
a) Farming
b) Industry
c) Travel
d) Technology and electronics

The Green Revolution was India's attempt to improve?
a) Agriculture
b) Business
c) Factories
d) Military

One of the problems resulting from the Green Revolution?
a) Decreased factories
b) Air pollution
c) Water pollution
d) Increased crops

The economy of China can best be described as?
a) Command
b) Market
c) Mixed
d) Traditional

Why do most economies in the world today operate somewhere in between a market economy and a command economy?
a) Most economies cannot have only a free market
b) Most economies cannot have only government control
c) Most economies are more towards a free market than government control
d) Most economies are between a free market and some government control

Who takes on the financial risk in starting a new business in a market economy?
a) Government planning goups
b) Congress
c) Individual business people
d) Local businessmen

In a market economy, how are economic decisions made?
a) Individuals
b) Government Planners
c) Voting citizens
d) Entrepreneurs

In a command economy, how are economic decisions made?
a) Public voters
b) Government planners
c) Congress
d) Democratic president

The economy of Japan can best be described as?
a) Command
b) Market
c) Traditional
d) Mixed

Japan's economy could be classified as?
a) One of the most technologically advanced in the world
b) One of the most traveled cities in the world
c) One of the most industrialized cities in the world
d) One of the most historically significant cities in the world

The Japanese economy has to make up for the country's lack of?
a) natural resources
b) industries
c) farmland
d) businesses

Japanese farmers were able to increase the amount of land they had for farming by doing which of the following?
a) Building islands in the ocean
b) Building a hydroelectric dam
c) Terracing
d) Restrict businesses

What is the job of the Ministry of International Trade and Industry?
a) Helping companies decide what products will sell in the global market
b) Helping companies hire employees
c) Helping companies decide on factory size
d) Helping companies decide where to hire employees

The economy of North Korea could best be described as mostly?
a) Mixed
b) Market
c) Command
d) Traditional

Poor decisions made about how to organize farming in North Korea have resulted in many years of?
a) Starvation
b) Government oversite
c) Job loss
d) Poverty

Most major economic decisions in North Korea are made by?
a) Government planners
b) Congress
c) Individual voters
d) Premier Kim Jong-Un

Premier Kim Jong-Un has spent a great deal of North Korea's money on?
a) Factories
b) Education
c) Military
d) Business

What is the definition of economic specialization
a) A country making a product
b) Producing goods
c) Producing goods and services for other countries
d) Producing goods a country can make easily so they can trade for goods that they cannot produce.

What is a tariff?
a) Tax placed on factores
b) Tax placed on gas
c) A tax placed on goods
d) A tax placed on colleges

What is a quota
a) A tax on goods
b) A limit to the number of foreign produced goods that are allowed into the country
c) A limit to the domestic goods within a country
d) A limit to the the amount of goods within a city

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