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Govt and Econ Asia

Government and Economics of Asia Test Study Guide

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 North Korea spends most of its money on the military and their technology is out of date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
Created by: MsBentley



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