What is the definition of human capital?

skills and education the workers have

What are capital goods?

A. factories and machines used to make the goods

The purpose of China creating Special Economic Zones was to

C. Increase trade with foreign countries.

What is an entrepreneur?

Creative original thinkers willing to take a risk

What was the purpose of China’s setting up the four Special Economic Zones?

A. to act as trade centers for global trade

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Asia Economic Test Review

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7th Econ Vocabulary review

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Questions 28

Answers

1
The economy of China can best be described as
D. Free market.
C. Command.
A. Mixed.
B. Autocratic.
2
What is the definition of human capital?
amount of goods sold in foreign trade in a year
money paid to workers for producing goods
taxes collected from a country’s workers
skills and education the workers have
3
What are capital goods?
B. workers who make the goods and perform services
D. goods and services that are produced for an economy
C. money spent to train workers to use new technology
A. factories and machines used to make the goods
4
The purpose of China creating Special Economic Zones was to
A. Spread communist teachings.
D. Keep foreign workers out of the country.
C. Increase trade with foreign countries.
B. Improve agricultural harvests.
5
How much of India’s GDP comes from farming?
B. 25 percent
D. 75 percent
A. 10 percent
C. 50 percent
6
How does India rank in the world in terms of industrial production?
50th
20th
3rd
top 10
7
One of the problems resulting from the Green Revolution
B. Air pollution.
C. Water pollution
D. Overpopulation
A. Drought.
8
Which best describes the majority of the farms in India?
D. farms owned by India’s major agricultural industries
A. small, family owned farms
B. collective farms owned and worked by entire villages
C. large cooperatives owned and operated by the government
9
Investment in capital goods has helped China do well in which world markets?
B. consumer goods
C. educational software
A. fashion design
D. communications services
10
What percentage of India’s population work in agriculture?
75 percent
50 percent
nearly 100 percent
25 percent
11
The Great Leap Forward and the Cultural Revolution were examples of China’s attempt to
B. Improve the economy.
A. End communist rule.
C. Sell more goods overseas.
D. Control population growth.
12
India must invest in capital goods to help overcome which problems?
A. GDP that has not grown
D. expense of maintaining a large military
C. lack of a strong middle class
B. overpopulation and poverty
13
The economy of Japan can best be described as
C. Traditional.
A. Mixed.
D. Communist.
B. Command.
14
The Japanese economy has to make up for the country's lack of?
education
farmland
people
natural resources
15
The economy of North Korea could best be described as mostly
C. Traditional.
A. Market.
D. Free enterprise.
B. Command.
16
Which is the source of nearly all of Japan’s GDP?
D. industry and services
C. military production
A. agriculture
B. public education
17
What is an entrepreneur?
Business managers
President of a company
Creative original thinkers willing to take a risk
Business employees
18
Today at least half of China’s workers are still involved in
C. Heavy industry.
A. Agriculture.
B. The military.
D. Service industries.
19
The economy of India can best be described as
A. Mixed.
B. Command.
C. Traditional.
D. Communist.
20
Investment in capital goods has helped China do well in which world markets?
entrepreneurship
Chia pets
consumer goods
global trading
21
Which is an example of a natural resource?
B. deposit of coal
C. irrigation canal
A. factory
D. hydroelectric dam
22
Poor decisions made about how to organize farming in N Korea have resulted in years of?
water pollution
forced labor
starvation
erosion
23
The Green Revolution was India’s attempt to improve
C. Agriculture.
B. Air quality.
A. Education.
D. Iron and steel manufacturing.
24
What is one of the most important ways Japan has invested in human capital?
D. early retirement programs
C. unemployment insurance
B. tax breaks for workers
A. education
25
Which is an example of a natural resource?
coal
cow
chocolate
moon
26
What was the purpose of China’s setting up the four Special Economic Zones?
C. to keep all foreign competition out of local markets
D. workers could get special discounts on food and housing
B. to improve agricultural production in rural areas
A. to act as trade centers for global trade
27
Most major economic decisions in North Korea are made by?
the communist government
Premier Kim Jong-un
the military
the people
28
Who has benefited from the micro credit industry in India?
the economy
the government
rural village men and women
the children

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