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Govt and Econ Asia
Government and Economics of Asia Test Study Guide
Question | Answer |
---|---|
How does the literacy rate impact the economy of a country? | The higher the literacy rate, the more successful the economy |
Why do countries need an exchange rate? | In order to trade |
What do the governments of China, India, and Japan all have in common? | 3 branches of government; supreme court; citizens get to vote (for something) |
Describe China’s government and economy. | Communist controlled by the CCP (oligarchy); HOG is premier; since Mao Zedong’s death, the economy has moved from command towards market (mixed towards market) |
Describe India’s government and economy. | Federal republic with a parliamentary democracy; prime minister is HOG; mixed market economy |
Describe Japan’s government and economy. | Constitutional monarchy with a parliamentary democracy; prime minister is HOG; emperor is HOS; mixed market economy |
What type of economy does North Korea have? | command |
What political party controls China? | Chinese Communist Party (CCP) |
Why is North Korea poorer than most countries even though it has a wealth of natural resources? | North Korea spends most of its money on the military and their technology is out of date |
What is Japan’s parliament called? | Diet |
Why do the individual voters have more power in a democracy than they do in an autocracy or an oligarchy? | Citizens get to vote for leaders in a democracy |
Why do most economies operate somewhere between a market economy and a command economy? | Countries have found that they are more successful if there is a combination of private ownership and government control |
How has Japan made up for its lack of natural resources? | Import raw materials and exports technology |
Why does economic specialization make trade between countries easier? | Countries are able to produce goods that they can trade for things that they need but do not produce |
How do factors of growth impact the GDP of a country? | The more a country invests in the factors of growth, the more the GDP will grow |
What branch of government is responsible for making laws in a parliamentary system of government? | legislative |
Unitary | the central government has all power |
Federal | national, regional, and local governments share power |
Confederation | independent countries agree to work together for a common purpose |
Autocracy | one person has total control of a country |
Oligarchy | a small group rules |
Democracy | citizens get to vote |
Parliamentary Democracy | democracy in which citizens elect people to parliament and members of parliament choose the prime minister (HOG) |
Presidential Democracy | democracy in which citizens elect the president (HOG and HOS) |
Tariff | a tax on imports |
Embargo | a halt to trade |
Quota | a limit on imports |
Trade surplus | when a country exports more than it imports (Japan) |
Specialization | when a country produces only the goods it can make easily and trade for what they need but do not produce |
GDP | Gross Domestic Product; the total value of all goods and services produced in a year in one country |
Human Capital | the value of a person’s skills and education |
Entrepreneur | a person who takes a risk to start a new business |
Capital Goods | goods used to make other goods |
Natural Resources | gifts of the earth |
Market economy | an economy in which supply and demand answer the three basic economic questions |
Command economy | an economy in which the government determines the answers to the 3 basic economic questions |
Mixed economy | an economy that has both command and market economy elements |
What do the governments of India and China have in common? | Citizens 18 and older can vote; the Head of State is a president |
What do the governments of India and Japan have in common? | Head of government is prime minister; parliamentary democracy; citizens have many freedoms; bicameral parliament |
What do the governments of China and Japan have in common? | Unitary |
Who is the HOG in China? | premier |
Who is the HOG of India? | prime minister |
Who is the HOG of Japan? | prime minister |
Who controls the oligarchy in China? | CCP |
What do parliamentary and presidential democracies have in common? | both democracies so citizens get to vote |
What differences do parliamentary and presidential democracies have? | In parliamentary, citizens elect members to parliament and the members of parliament elect the prime minister; In presidential, citizens elect the president |
Place China, North Korea, India, and Japan on the economic continuum. | North Korea, China, India, then Japan |