Government systems & Economic activity

Question 1

EU was formed for which reasons?

Accepted Answer

Minimize tariffs, Economic purposes

Question 2

Which is an ALLIANCE amongst nations

Accepted Answer

NATO

Question 3

In economics consumers

Accepted Answer

Buy goods

Question 4

Industrialized nations primarily depend on which level of economic activities

Accepted Answer

Secondary

Question 5

An example of economic benefit from flooding is best described by

Accepted Answer

Deposits minerals in the soil allowing greater crop yields

Question 6

Which best completes the list for tertiary activity: sales, transportation, teaching,

Accepted Answer

Banking

Question 7

North Korea isolates itself from other nations, which adjective fits their ideology

Accepted Answer

Self-reliant

Question 8

A farmer choosing what to grow & where to sell crops would be seen in which market system?

Accepted Answer

Free enterprise

Question 9

Which economy typically compliments a communist government?

Accepted Answer

Command

Question 10

Developed nations will primarily depend on which levels of economic activity?

Accepted Answer

Tertiary & quaternary

Question 11

Low competition, low incentive, & low innovation describe which market system

Accepted Answer

Command

Question 12

A tax paid on imports and exports

Accepted Answer

Tariff

Question 13

What is a benefit of standardized currency

Accepted Answer

Increased trade, Increased tourism, Increased spending, Increased movement of goods

Question 14

Which organization uses the euro as currency?

Accepted Answer

European Union

Question 15

What is common between India, the EU, and the U.S.?

Accepted Answer

3 branches of government

Question 16

Which is a characteristic of a developing nation?

Accepted Answer

Low literacy rate

Question 17

Constitutional monarchs are limited by

Accepted Answer

A set of laws defining & limiting their power

Question 18

single government with a single political party controlling the economy describes which country

Accepted Answer

North Korea

Question 19

As a single economy the EU is considered the _____ economy in the world

Accepted Answer

Largest

Question 20

The Common Market of the EU eliminates

Accepted Answer

Restrictions, Tariffs

Question 21

The following is associated with which economic activity level

Accepted Answer

Primary

Question 22

Which economy has characteristics of more than one market system

Accepted Answer

Mixed market

Question 23

The Saudi Arabian king enjoys absolute sovereignty because:

Accepted Answer

He's an absolute monarch

Question 24

This teacher is employed in which level of economic activity?

Accepted Answer

Tertiary

Question 25

Developing nations primarily depend on which level of economic activity

Accepted Answer

Primary

Question 26

A combination of command & market economy is described as?

Accepted Answer

Mixed

Question 27

Free enterprise is a synonym for:

Accepted Answer

Market economy

Question 28

Which is an example of a social contract

Accepted Answer

India becoming a democracy after gaining independence

Question 29

Natural disasters affects the economy by:

Accepted Answer

Creating lack of resources

Question 30

This type of economy primarily aligns with representative democracies

Accepted Answer

Market

Question 31

A(n) nation is characterized with a high GDP & high literacy rate

Accepted Answer

Developed

Question 32

Planned economy is a synonym for:

Accepted Answer

Command

Question 33

Supply & demand are determinants of which economy?

Accepted Answer

Market

Government systems & Economic activity

Questions 33

Government systems & Economic activity

Questions 33