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Duplicate of Economies Southeast Asia (China/India) Flashcards | StudBud
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Duplicate of Economies Southeast Asia (China/India)
Duplicate of Economies Southeast Asia (China/India)
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From Georgia CRCT Test Prep book pages 168-172
Flashcards
32 cards
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Practice quiz
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Questions
32
Answers
1
A market economy bases the 3 questions off of supply and demand and lets private citizens make decision.
False
True
2
Command economies are usually in communist countries.
False
True
3
Which program was intended to reorganize China's farms?
Great Leap Forward
Cultural Revolution
Economic Zones
Four Modernizations
4
Anyone can be an entrepreneur in North Korea.
False
True
5
Why won't countries (except China) trade with North Korea?
strict government and history of aggression
charge too much for export taxes
Kim Jong Un does not like them
they don't produce what they need
6
The economy of North Korea is mostly
traditional
command
mixed
market
7
Which does not describe a market economy?
no laws to make sure food is monitored in stores
no laws to protect workers from unfair bosses
no laws to monitor medicines from doctors
no laws to monitor traffic lights
8
Which is not an economic question answered by the type of economy in a country
who it will be produced for
how it will be produced
how many will be produced
what will be produced
9
India's economy is
mixed
command
market
traditional
10
Why are most economies mixed?
Government control is not always successful
most consumers prefer government control
Most economies need some government control and free market
government control makes a market economy profitable
11
Premier Kim Jong-Un has spent a great deal of North Korea's money on
Agriculture
Education
Military
Medical Care
12
The economies of China, India, and Japan can be described as
traditional
mixed
command
market
13
Great Leap Forward and Cultural Revolution were China's effort to improve
sell more goods overseas.
improve the economy.
end communist rule.
control population growth.
14
In a traditional economies, how are economic decision made?
consumers
customs and traditions
government leaders
mix of consumers and government leaders
15
Who takes on financial risk in starting new businesses in a market economy?
consumers
government planners
individual business people
combo of government planners and individual investors
16
Which of these is NOT a way that India supports economic freedom?
goverment provides sukpport to business owners
citizens have complete control over economy
citizens are allowed to take over industries
government promotes entrepreneurship
17
Private ownership of business, supply/demand determine prices, some government control describe
market
command
traditional
mixed
18
Japan's economy is
command
market
traditional
mixed market
19
How are economic decisions made in a traditional economy?
government planners
custom and habit
consumers and the market
combo of consumers and government planners
20
Of the countries we have studies in SE Asia, which is the most free economy?
North Korea
India
China
South Korea
21
Who makes the economic decisions in North Korea?
merchants
government
merchants and government
consumers
22
The economy of China is best described as
command.
mixed.
communist.
traditional.
23
India's economy has improved, but millions of people live in poverty.
True
False
24
North Korea's Economy is
command
traditional
mixed
market
25
Which is a problem for a country with a traditional economy?
a farmer might have extra grain to trade for cash
supply of cash runs short in economic crises
people can trade services more easily than goods
people need things and are unable to barter for them
26
Individuals can't start new businesses, government decides what to sell. Identify the economy.
command
mixed
traditional
market
27
The Green Revolution was India's effort to improve
agriculture.
air quality.
iron/steel manufacturing.
education.
28
Half of China's workers are still involved in
agriculture
service industries
heavy industry
the military
29
One of India's most successful areas is
textile/machine manufacturing
technology/electronics
auto and truck manufacturing
production of military weapons
30
The Great Leap Forward was an example of a command system
False
True
31
Who has the fastest growing economy?
South Korea
India
China
Japan
32
South Korea and Japan have very free economies.
True
False