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Duplicate of Southern and Eastern Asia: Economics Flashcards | StudBud
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Duplicate of Southern and Eastern Asia: Economics
Duplicate of Southern and Eastern Asia: Economics
30 terms
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264 plays
7th Grade SS
Flashcards
30 cards
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Practice quiz
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Host live
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Questions
30
Answers
1
If Russia must pay high tariffs on steel sold to China, the Chinese steel will ___.
be more expensive than the Russian steel
be cheaper than the Russian steel
disappear
will suddenly become more valuable to Japan
2
This country is predicted to become the world's economic leader in 20 years.
North Korea
China
Japan
India
3
International trade is made possible by...?
quotas
the currency exchange rate
embargoes
tariffs
4
When the government places a tax on imported goods is an example of which trade barrier?
Tariff
Quota
Embargo
Sanction
5
Limiting the amount of imported goods is called a _____.
quota
receipt
tariff
embargo
6
A scientist, a factory worker, an accountant
entrepreneurship
human capital
capital
natural resources
7
This country has a mixed market economy - one of the strongest in the world!
India
Japan
China
North Korea
8
Most economies in the world today are ____ economies.
Command
Traditional
Market
Mixed
9
When a country is able to easily produce goods and then trade them for goods made by others
Traditional Economy
Quota
Tariff
Economic Specialization
10
When the USA refuses to trade with countries that support terrorism that's an example of ___.
a quota
a tariff
being greedy
an embargo
11
What is one key factor that is responsible for Japan's greatest economic success?
Japanese workers are lazy
Robots do all the jobs in Japan
Japanese workers are loyal and hard working
Japanese workers have longer vacations
12
These trade barriers forbid trade with another country
mountains
quotas
tariffs
embargoes
13
Education is important. A country's literacy rate greatly affects its _____.
religious choices
abundance of natural resources
athletic ability
standard of living
14
This country has a command economy controlled by its Communist government.
China
Japan
North Korea
India
15
A new robot installed in a factory
capital
human capital
entrepreneurship
natural resource
16
Investing in factories, machinery, and technology is an example of ___.
human capital investment
natural resources
capital investment
entrepreneurship
17
This economic system makes decisions based on family customs/rituals and simple survival.
Command
Market
Mixed
Traditional
18
If the US limits the amount of imports of Indian jewelry into the US, the price will ____.
remain the same
disappear like the jewelry
go up
go down
19
India continues to invest in capital goods to overcome what problems?
Overpopulation and poverty
Small military
The Caste System
Having no farming
20
This economic system involves the government determining what and how much will be produced
Mixed
Command
Market
Traditional
21
An idea for a new car powered by solar energy
natural resource
entrepreneurship
capital
human capital
22
Japan's economy is mostly made up of _____.
Industry (cars and electronics) and services
Public education
Agriculture
Military production
23
Investing in the training and education of a potential work force is an investment in ____.
entrepreneurship
capital investment
human capital
natural resources
24
This country calls its economy a "socialist market economy."
India
China
Japan
North Korea
25
A coal mine...
natural resource
capital
human capital
entrepreneurship
26
India only being able to export 4,000 shirts to China is an example of a(n) ____.
quota
trade
tariff
embargo
27
Charging the Chinese exporters an additional 20% to allow their rice to enter the USA is ___.
an example of an embargo
an example of a quota
a challenge
an example of a tariff
28
This country has a mixed economy that is moving away from a command system.
North Korea
China
India
Japan
29
The ideas ad risk involved in starting a business is a part of ____.
capital
natural resources
human capital
entrepreneurship
30
Supply and demand basically determines what and how much will be produced
Market
Mixed
Command
Traditional