Unit 5A quiz

Question 1

What is the main cause of air pollution in China and India?

Accepted Answer

the burning of fossil fuels

Question 2

What country’s economic policies LIMIT entrepreneurship the most?

Accepted Answer

North Korea

Question 3

What two countries have arable(good for growing crops) amounts of farmland?

Accepted Answer

India and China

Question 4

What is an entrepreneur?

Accepted Answer

Someone who takes risk to start their own business

Question 5

What are capital goods/capital resources?

Accepted Answer

Man-made materials that are needed to produce goods and services.

Question 6

Japan imports more than any other country because it has a lack of what?

Accepted Answer

natural resources.

Question 7

What is the main cause of pollution in the Ganges River?

Accepted Answer

Garbage and sewage dumped into the river

Question 8

How are the three basic questions answered in a command economy?

Accepted Answer

based on government planning

Question 9

On the economic continuum, a country towards the middle has a mixture of which two governments?

Accepted Answer

There is a mixture of government and consumer decisions, There is a mixture of government and consumer decisions, There is a mixture of government and consumer decisions, There is a mixture of government and consumer decisions

Question 10

What is human capital?

Accepted Answer

The collective knowledge and skills of a country&#x27;s workforce

Question 11

What is specialization?

Accepted Answer

When countries specialize in what they do best, When countries specialize in what they do best, When countries specialize in what they do best, When countries specialize in what they do best

Question 12

What type of goods should a country specialize in?

Accepted Answer

goods it produces more efficiently than its trading partners

Question 13

A country closer to total economic freedom on the economic continuum resembles which type of economy?

Accepted Answer

Pure market

Question 14

What is an example of entrepreneurship?

Accepted Answer

A man uses his savings to open a coffee shop and hires his friend.

Question 15

What is an embargo?

Accepted Answer

suspending/stopping trade

Question 16

Indoor pollution in China and India is mostly caused by cooking and heating with what?

Accepted Answer

with biomass fuels

Question 17

What country is the MOST closest to a pure command economy?

Accepted Answer

North Korea

Question 18

What is the main source of pollution in the Chang Jiang River?

Accepted Answer

industrial runoff

Question 19

What should a country invest in to increase itsliteracy rate?

Accepted Answer

education

Question 20

What plays the biggest role in determining the answers to the basic economic questions in a traditional economy?

Accepted Answer

custom and tradition

Question 21

Why do businesses usually invest in new capital goods?

Accepted Answer

In order to increase the efficiency of production.

Question 22

What is a tariff?

Accepted Answer

a tax placed on goods coming into a country

Question 23

Which country would be the BEST trading partner?

Accepted Answer

a country that specializes in producing oil

Question 24

What are exchange rates?

Accepted Answer

To calculate the value of one country&#x27;s currency in terms of another.

Question 25

In which situation would a system of currency exchange be necessary?

Accepted Answer

A business buys automobile parts from a business in another country

Unit 5A quiz

Questions 25

Unit 5A quiz

Questions 25