How did Russia's economy change going FROM the Soviet Union TO the Russia of today?

From a heavily Command economy to a Mixed economy that leans Command

Which answer BEST says who decides which goods will be produced and sold in the UK?

Businesses and Supply and Demand

What are the 3 key economic questions?

What to produce? How to produce? For whom to produce?

What do the economic systems of Russia, the UK, and Germany have in common?

They all have have Mixed economies.

If you have a Continuum with Command on the LEFT and Market on the RIGHT, then which answer is the proper order?

Russia, Germany, the U.K., the U.S.

After the Cold War, Russia's economy ________________________.

changed from a Command Economy to a Mixed Command-leaning Economy.

A person who starts their own business is called what?

An Entrepreneur that works to create jobs and profits

Why was the European Union formed?

To rebuild and strengthen Europe politically, economically, and militarily

Why type of economic system did the Soviet Union have?

Command, led by an autocratic government that made many economic decisions

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Economic Systems and Economies of Europe

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6th grade econ

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Answers

1
How did Russia's economy change going FROM the Soviet Union TO the Russia of today?
From a pure Command economy to a Mixed economy that leans Market
From a heavily Command economy to a Mixed economy that leans Command
From a pure Market economy to a Mixed economy that leans Market
From a pure Mixed economy to a pure Command economy
2
Economic systems that rely on customs passed down from generation to generation are what?
Mixed
Market
Traditional
Command
3
Which economic system is LEAST likley to exist in modern-day Europe?
Traditional
Command
Mixed
Market
4
Which answer BEST says who decides which goods will be produced and sold in the UK?
Parliament
The communist government
Businesses and Supply and Demand
Prime Minister
5
What are the 3 key economic questions?
What is our opportunity cost? What resources? When to produce?
What to produce? Why to produce? When to produce?
What to produce? How to produce? For whom to produce?
What is needed? Why is money important? Who will get everything?
6
In a lawn-cutting business, LAWNMOWERS are examples of what?
Human Capital
Natural Resources
Capital Goods
Entrepreneurship
7
In a Command Economy, the _______________ makes most of the economic decisions.
Citizens
Businesses
Government
People
8
What do the economic systems of Russia, the UK, and Germany have in common?
They all have have Mixed economies.
They are all pure Market economies
They are all Mixed, leaning towards Command.
They all have pure Commands economies
9
If you have a Continuum with Command on the LEFT and Market on the RIGHT, then which answer is the proper order?
Russia, the U.K., the U.S., Germany
The U.K., Russia, the U.S., Germany
Russia, Germany, the U.K., the U.S.
The U.S., the U.K., Germany, Russia
10
When Supply and Demand and businesses make most business decisions, they lean towards more of what type of economy?
Market Economy
Mixed Economy
Traditional Economy
Command Economy
11
After the Cold War, Russia's economy ________________________.
changed from a Command Economy to a Mixed Command-leaning Economy.
was transitioning from a Market Economy to a command economy.
Is a pure Command Economy, where the government makes all of the decisions.
Is a pure market economy, with no government regulations
12
A person who starts their own business is called what?
An autocrat that makes every economic decision for a country
An Entrepreneur that works to create jobs and profits
A Traditionalist that relies on customs and traditional job roles
An Opportunist that imposes trade barriers on foreign markets
13
How do entrepreneurs help to increase a country's GDP?
Making laws to protect their goods
Creating jobs
Placing quotas on goods
Placing tariffs on goods
14
What is the over-all trend: Lower literacy rates = _______ GDP per Capita
Lower
The Same
Higher
There is no relation
15
Why was the European Union formed?
to establish more Command-based economies in Europe
To defeat the US in the Space Race
To solve environmental issues and reduce Carbon Dioxide
To rebuild and strengthen Europe politically, economically, and militarily
16
Why type of economic system did the Soviet Union have?
Traditional, based on customs and traditions
Command, led by an autocratic government that made many economic decisions
Market, allowing for private property and little government influence
Mixed, with a combination of government influence and entrepreneurship

Economic Systems and Economies of Europe Flashcards | StudBud