What determines the answers to the basic economic questions in a mixed economy?

Citizen(market) choices and government control

What is an oligarchy?

A government controlled by a small group of people.

What is an entrepreneur?

Someone who owns their own business

Why do many African governments have weak economies?

They have government instability and citizens are dying from disease

Which of these statements are true about India's mixed economy?

Both citizens and the government control some industries

Which statement is true about autocracies?

Citizens have no role in choosing their government leaders

Which choice describes the governments of Japan, India, and South Korea?

Japan and India are parliamentary, South Korea is presidential

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SE Asia Government and Economics Review

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Questions 10

Answers

1
What determines the answers to the basic economic questions in a mixed economy?
Citizen(market) choices and government control
Cultural traditions
The total cost of resources
Consumer choices
2
Which Asian country is almost a pure command economy?
China
India
North Korea
South Korea
3
What is an oligarchy?
A government where only one person has full power.
A government controlled by a small group of people.
A government where the executive and legislative branches are separate.
A government where citizens have many rights and freedoms.
4
What is an entrepreneur?
Someone who utilizes trade barriers to raise GDP
Someone who works for the government
Someone who owns their own business
Someone who transfers one currency to another
5
What type of government does North Korea have?
Parliamentary Democracy
Autocracy
Oligarchy
Presidential Democracy
6
Why do many African governments have weak economies?
They have government instability and citizens are dying from disease
They don't have any natural resources
They cannot focus on their economy since they are going to war with America
They are currently being colonized by the British
7
The education and skill level of a nation's citizens is known as...
Entrepreneur Level
Human Capital
Intelligence Quota
Capital Goods
8
Which of these statements are true about India's mixed economy?
The government owns all businesses
Both citizens and the government control some industries
All economic decisions are made by citizens
Citizens are not allowed to be entrepreneurs at all
9
Which statement is true about autocracies?
Citizens have many rights and freedoms like freedom of speech
Citizens can directly elect their chief executive
Citizens have no role in choosing their government leaders
Citizens can elect the legislature but not the chief executive
10
Which choice describes the governments of Japan, India, and South Korea?
They're all parliamentary democracies
They're all presidential democracies
Japan and India are presidential, South Korea is parliamentary
Japan and India are parliamentary, South Korea is presidential

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