What country am I describing? 95% command, entrepreneurship not allowed, outdated technology and factories,
North Korea
What country am I describing? Close to market, entrepreneurship is encouraged, highly industrialized economy, 10 the largest in the world
South Korea
If a country invests in capital goods, should their GDP increase or decrease?
increase
What word means the total value of goods and services produced by a country in a year?
Gross Domestic Product (GDP)
Not allowing trade at all
Embargo
Instead of producing everything, countries focus on a few items to make very well. What is this an example of?
Specialization
Which pair of countries have governments that are the most similar?
India and Japan
Limit on imported goods
Quota
Trading goods instead of using money is part of which type of economy?
Traditional
People DO NOT directly elect the leader who is usually called Prime Minister and CAN be fired (2 words)
Parliamentary Democracy
If a country invests more money in schools, what are they investing in? Would that make GDP increase or decrease?
Human Capital, GDP should go up
What country am I describing? #3 economy in the world, close to market, lots of technology, doesn't have many natural resources, .
Japan
If a country invests in human capital, would their literacy rate increase or decrease?
increase
True or False- In China and North Korea, when citizens vote is make a huge difference.
False
Constitutional Monarchy, Parliamentary Democracy, Chief Executive: Prime Minister, Emperor: Head of State, Bicameral Legislature called the Diet, All citizens can vote at age 18. Which country am I describing?
Japan
If India and Japan are both parliamentary democracies, how do they determine their leaders?
The citizens elect members of the legislature, then members of the legislature select the leader.
gold, oil, farmland, timber are all examples of what factor of economic growth?
Natural Resources
What country am I describing-Presidential Democracy, citizens can vote at age 19, rights and freedoms similar to US
South Korea
Government controls all aspects of this type of economy
Command
Crops and handmade clothing would probably be made by someone in what type of economy?
Traditional
If a country has a higher literacy rate, would the standard of living be higher or lower?
Higher
What country am I describing? #7 economy in the world, in the middle of economic continuum line, education and learning English are a priority
India
If a country encourages people to start businesses, what factor of economic growth are they investing in?
Entrepreneurship
If a country is an autocracy, their economy is probably closer to market or command?
Command
Which country would the U.S. MOST LIKELY have an embargo against?
North Korea
If the literacy rate of a country increases, what factor of economic growth has the country invested in?
Human Capital
What country am I describing? Fastest growing economy, in the middle of economic continuum line, high levels of manufacturing
China
What country am I describing-Supreme Leader inherits his title and controls everything, people can vote at age 17, but their vote means nothing
North Korea
Economy that is a combination of command and market
Mixed
If 2 countries removed all trade barriers, would this increase or decrease the growth of their economies?
Increase
Tax on imported goods
Tariff
Citizens of which country are considered to have the LEAST freedom?
North Korea
A country is trying to help domestic producers of computers, so they limit how many computers can be imported. What type of trade barrier are they using?
Quota
What country am I describing-Controlled by the Communist Party, Has limited rights and freedoms, Allows citizens to vote at age 18, but votes don't mean much.
China
If a country has new technology, new roads and bridges, and make goods in factories, which factor of economic growth have they invested in?
Capital goods
If a country is closer to market, who makes the business decisions-the government or individual citizens?
Individual Citizens
The leader has all the power in this type of government
Autocracy
Supply and demand controls this economy
Market
People directly elect the leader, CANNOT be fired, 3 seperate branches(2 words)
Presidential Democracy
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