Which are examples of capital goods?

factories, machines, technologies, buildings & property

products a country makes best and that are in demand.

What are the 4 factors of production that influence economic growth within a country?

Natural Resources/Human & Physical Capital /Entrepreneurship

What are ways that Japan has made massive capital investments?

modern/reliable infrastructure, new technology

What is an abundant natural resource for China?

coal/iron ore/pertroleum abundant land (size)

when a country won't trade with another country

What is the difference between human capital and physical capital?

HC is the knowledge while PC is the factories / machines

studbud

Economics Review

25 termsStudBud Administration177 plays

Content is based off of 7th grade Georgia Social Studies standards

Flashcards25 cardsFPractice quizPHost liveL

Questions 25

Answers

1
Which are examples of capital goods?
education and on the job training
healthcare, vacation, and salaries
reading and writing
factories, machines, technologies, buildings & property
2
Japan's investment in human capital makes them one of the strongest countries in the world.
False
True
3
What is a tariff?
a tax on imported goods
when a country won't trade with another country
a limit on imported goods
when a country becomes bankrupt
4
What is it called when a country focuses on one or two industries for production?
favortism
oil production
pick and choose
specialization
5
T/F: China is transitioning from a command economy to a mixed economy
False
True
6
What is GDP?
good domestic products
not enough information
gross domestic products
goats don't pray
7
Which are examples of human goods?
roads and buildings
factories, machines, technologies, buildings & property
knowledge and skills
things that help us do a job (like computers)
8
T/F: There are no PURE command countries in the world toda
False
True
9
Specialization is _.
when a country produces everything the country needs.
avoiding investing in products.
products a country makes best and that are in demand.
making a deal to trade between neighboring countries.
10
What are the 4 factors of production that influence economic growth within a country?
Dogs / Cats /Pigs / Cows
Traditional/Market/Command/Mixed
Natural Resources/Human & Physical Capital /Entrepreneurship
Executive/Legistlative/Judicial/Administrative
11
Which country is skilled in technology and has become a major source of "outsourcing"?
China
India
Japan
South Korea
12
What are the three types of trade barriers?
embargo / impasse / tariff
border /impasse / embargo
quota / tariff / border
quota / tariff / embargo
13
How has China invested in Human Capital?
improved its education system
improved its roads
provided workers with latest equipment
giving loans to entrepreneurs
14
What is a quota?
a limit on imported goods
a disagreement between 2 countris
a food people sell in the market
a shoe company
15
What are ways that Japan has made massive capital investments?
healthcare for all citizens
modern/reliable infrastructure
ongoing education
new technology
16
T/F India has invested greatly in human capital, but the govt has neglected capital investments
True
False
17
When Economic decisions are made based on changes in prices that occur as buyers & sellers
command economy
market economy
traditional economy
18
What are natural resources?
none of the above
manufactured goods a country has
raw materials a country has
technology used to make other goods
19
Trading without using money
ebay
quota
specialization
bartering
20
What is an abundant natural resource for China?
education
silver
coal/iron ore/pertroleum abundant land (size)
they don't have any
21
People who provide the money to start and operate a business are called_.
Crazy
Entrepreneurs
Employees
Workers
22
When ALL economic decisions are made by the Government
mixed economy
market economy
command economy
traditional economy
23
What is an embargo?
a limit on imported goods
a tax on imported goods
when a country won't trade with another country
when a country becomes bankrupt
24
What is the difference between human capital and physical capital?
PC is the knowledge while HC is the factories/ machines
all of the above
HC is the knowledge while PC is the factories / machines
there is no difference
25
How has China invested in Capital Investments?
improved its education system
giving loans to entrepreneurs
they haven't invested anything into their capital goods
put money into manufacturing

Economics Review Flashcards | StudBud