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Asia Economics
| Question | Answer |
|---|---|
| Why do most countries in the world today fall somewhere between a market and a command economy? | Most countries have found they need a mix of free market and government control to be successful. |
| Most economic decisions in North Korea are made by: | Premier Kim Jong-un |
| The Japanese economy has to make up for the country’s lack of: | Natural resources |
| In a command economy, economic decisions are made by the ___________. | government |
| The economy of North Korea can best be described as: | Command |
| Poor decisions made about how to organize farming in North Korea have resulted in many years of: | Starvation |
| Today, at least 50% of China’s workers are involved in: | Agriculture |
| Which has been a constant problem for India’s economy? | Overpopulation and poverty found throughout the country |
| Why does specialization make trade between countries easier? | Countries can produce what they make best and trade with others for what they need. |
| Why has Japan specialized in the area of technology? | It has few natural resources and little farmland. |
| If Japan’s government puts a limit on how much Vietnamese rice it will import this year, what trade barrier is this? | Quota |
| Which of the following BEST describes a market system? | A person can start any legal business and charge any price. |
| Most democratic nations have _______ economies. | mixed |
| In the 1970s, China tried to improve its economy by announcing which program? | Four Modernizations |
| Why is it important for a country to invest in human capital? | A country’s economy is more successful when workers have good education and health care. |
| Premier Kim Jong-il has spent a great deal of North Korea’s money on: | Military |
| The Great Leap Forward and the Cultural Revolution were examples of China’s attempt to: | Improve the economy |
| What is a main reason for people to exchange currency? | to buy and sell goods and services with other countries |
| What is an example of a physical trade barrier in Southeast Asia? | Gobi desert |
| The economies of China, India, and Japan can all best be described as: | Mixed |
| Which trade barrier sets up a complete ban on trading between countries? | embargo |
Created by:
avandeford