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Units 11 & 12
Governments and Economies of S & E Asia
| Description | Term |
|---|---|
| Government of China | Communist State/Autocracy |
| Government of North Korea | Autocracy |
| Government of Japan | Parliamentary Democracy based on a Constitutional Democracy |
| Government of South Korea | Presidential Democracy |
| Government of India | Parliamentary Democracy |
| Citizen Participation of China | Autocratic |
| Citizen Participation of North Korea | Autocratic |
| Citizen Participation of Japan | Democratic |
| Citizen Participation of South Korea | Democratic |
| Citizen Participation of India | Democratic |
| Command Leaning - 48% Free | Economic System of China |
| Command - 3% Free | Economic System of North Korea |
| Market Leaning - 70% Free | Economic System of Japan |
| Market Leaning - 75% Free | Economic System of South Korea |
| Market Leaning - 54% Free | Economic System of India |
| Major Resources of China | Hydroelectric Power, Petroleum, Coal |
| Major Resources of North Korea | Coal, Iron Ore, Limestone |
| Major Resources of Japan | limited natural resources; fish |
| Major Resources of South Korea | Coal, Tungsten, Graphite |
| Major Resources of India | Coal, Arable Land, Diamonds |
| Major Industries of China | Telecommunications, Iron/Steel |
| Major Industries of North Korea | Military Products, Machines |
| Major Industries of Japan | Motor Vehicles, Electronic Equipment |
| Major Industries of South Korea | Electronics, Telecommunications, Motor Vehicles |
| Major Industries of India | Textiles, Chemicals, Food Processing |
| The basic physical and organizational structures and facilities (e.g., buildings, roads, power supplies, etc.) needed for the operation of a society. Investing in this usually increases GDP per capita. | Infrastructure |
| Education and training of the workforce to make more complex products or to do their jobs more efficiently | Human Capital |
| Machines and tools that are used to make other goods or services for sale to consumers. Investing in this usually results in higher GDP | Capital Goods |
| The percentage of adults in a country that can read and write. A higher percentage usually results in a higher standard of living. | Literacy rate |
| Focusing on producing goods that can be made most efficiently and at a lower cost. It makes trade necessary. | Specialization |
| Top 3 exports of China | Broadcasting Equipment, integrated Circuits (computer chips), Office Machine parts |
| Top 3 exports of Japan | Cars, Integrated Circuits (computer chips), Vehicle Parts |
| Top 3 exports of South Korea | Integrated Circuits (computer chips), Cars, Refined Petroleum |
| Top 3 exports of India | Refined Petroleum, Packaged Medicaments (medicines), Diamonds |
| a government where political authority rests with a single leader | autocratic government |
| a government where authority rests with a nation’s citizens | democratic government |
| people elect a legislature; legislature chooses one of its members to be the head of government; Japan & India | Parliamentary Democracy |
| executive power is held by an individual (typically called a president) who is elected separately from the legislature; South Korea | Presidential Democracy |
| system of government in which a monarch shares power with a constitutionally organized government | Constitutional Monarchy |
| title often, but not always, given to the head of government in a parliamentary democracy | Prime Minister |
| agriculture economy that produces things the same way ancestors have; very little surplus is produced; almost all of what is made is in order to meet basic needs; almost none left | Traditional Economy |
| economy that allocates production and consumption based on a central economic plan, usually developed by the government; North Korea’s economy is closest to this type | Command Economy |
| economy in which decisions about economic production are driven by price signals, which are in turn created by supply and demand; tend to be very efficient; tend to be very unequal in distribution of resources; Japan and South Korea | Market Economy |
| The 3 Economic Questions | 1-what to produce, 2-how to produce, and 3-for whom to produce |
| the inability to give everyone all of the things they want | Scarcity |
| both parties (or countries) in the transaction will be able to gain something from the exchange | Voluntary Trade |
| anything that slows down or prevents one country from exchanging goods with another; always hurts both parties that would otherwise be trading | Trade Barriers |
| tax placed on goods coming into a country; goal to protect domestic industry | Tariff |
| a limit on the amount of a foreign good that can be imported; goal – to protect domestic industry | Quota |
| an official ban on trade with a particular country; goal – to punish another country by suspending trade | Embargo |
Created by:
MrFurr
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