Transcript An economic and political system in which property is owned

European Political and
Economic Systems Test
Review
An economic and political system
in which property is owned
collectively and labor is
organized in a way that is
supposed to benefit all people.
1 parliamentary
2. monarchy
3. communism
4. democracy
• 3. communism
government led by king or queen.
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4.
multi-party system
monarchy
one-party system
democracy
• 2. monarchy
• An economic grouping of countries in
Europe.
• 1. European Union
• 2. NATO
• 3. Warsaw Pact
• 4. Western Union
• 1. European Union
• system in which there is only one political
party and only one candidate to choose
from for each government position.
• 1. multi-party system
• 2 monarchy
• 3 one-party system
• 4. democracy
• 3 one-party system
• A republic whose head of government,
usually a Prime Minister, is the leader of
the political party that has the most
members in Parliament.
• 1. Monarchy
• 2. Parliamentary Democracy/ republic
• 3 oligarchy
• 4. dictatorship
• 2. Parliamentary Democracy/ republic
• A government that receives its power from
the people.
• 1. Monarchy
• 2. democracy
• 3. oligarchy
• 4. dictatorship
• 2. democracy
• A government in which a few powerful
(usually rich!) individuals rule.
• 1. federal
• 2. democracy
• 3. oligarchy
• 4. dictatorship
• 3. oligarchy
• country or nation that is governed by a
single person with unlimited power
• 1. federal
• 2. democracy
• 3. oligarchy
• 4. dictatorship/ autocratic
• 4. dictatorship/ autocratic
• individual states make their own laws and
decisions and are loosely aligned to a
weak central government.
• 1. federal
• 2. monarchy
• 3. unitary
• 4. confederation
• 4. confederation
• power to make laws and decisions for the
people is shared between central
government and states.
• 1. federal
• 2. monarchy
• 3. unitary
• 4. confederation
• 1. federal
• central government (federal) has all the
power to make laws and decisions for the
people. This doesn’t necessarily mean
this is a dictatorship.
• 1. federal
• 2. monarchy
• 3. unitary
• 4. confederation
• 3. unitary
• All of the following are questions a nation
must answer to build an economy
EXCEPT:
• 1 what to produce
• 2. who is going to produce it
• 3. how to produce
• 4. for whom to produce
• 2. who is going to produce it
• Which of the following statements is the
BEST example of a command economy?
• 1. anyone can easily start a company
• 2. anyone can easily make a profit from
hard work
3. the government decides the jobs of its
citizens and what’s for sale
• 4. traditional foods are gathered.
3. the government decides the jobs of its
citizens and what’s for sale
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One benefit of international trade is
1. trade
2. currency exchange
3. increased wealth
4. economic independence
• 3. increased wealth
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A tax on an import is a
1. quota
2. tariff
3. embargo
4. sale
• 2. tariff
• An increase in value of all goods and
services a country makes from 1 year to
another is called?
• 1. currency exchange
• 2. economic growth
• 3. gross domestic product (GDP)
• 4. capital goods
• 2. economic growth
• A political system based on 1-party rule;
government ownership of economic
resources, and decisions are made by the
government is?
• 1. communism
• 2. capitalism
• 3. socialism
• 4. fascism
• 1. communism
• A trade barrier in which the government
places restrictions on imports and exports
of certain goods; often backed by military
force is…
• 1. tariff
• 2. embargo
• 3. quota
• 4. capitalism
• 2. embargo
• What is a traditional economy?
• 1. economic system in which the government
owns some or all factors of production
• 2. economic system that has features of
traditional, command and market systems
• 3. system in which social roles and culture
determines how goods are made, sold and
bought
• 4. way in which a nation uses its resources to
satisfy people’s needs and wants
• 3. system in which social roles and culture
determines how goods are made, sold and
bought
• How does investing in human capital
impact a nation’s economy
• 1. it increases the literacy rate and
effectiveness of business
• 2. it decreases the amount of
unemployment and crime
• 3. it adds to the Gross Domestic product
of the country
• 4. all of the above
• 4. all of the above
• What did E. Germany adopt from W.
Germany after unification?
• 1. farming methods
• 2. education
• 3. the Euro
• 4. industrialization
• 2. education
• All countries must have an economic
system because..
• 1. scarcity of productive resources
• 2. to get a common currency for its
nations
• 3. to stay organized
• 4. A & B only
• 1. scarcity of productive resources
• What economic system does the
government have the biggest impact?
• 1. mixed
• 2. command
• 3. traditional
• 4. market
• 2. command
• What economic system is characterized by
the least amount of change?
• 1. mixed
• 2. command
• 3. traditional
• 4. market
• 3. traditional
• An economic concept that states the price
of a good rises or falls depending on how
many people want it and how much of the
good is available
• 1. economic growth
• 2. supply and demand
• 3. scarcity
• 4. GDP
• 2. supply and demand
• What type of capital is an employee/
worker
• 1. market capital
• 2. state capital
• 3. capital good
• 4. human capital
• 4. human capital
• Being a member of the European Union
provides all EXCEPT:
• 1. one common currency
• 2. more human capital for your country
• 3. more trade partners
• 4. more economic and financial stability
• 2. more human capital for your country
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One of Russia’s economic strengths is its?
1. consistent leadership
2. command economy
3. educated workforce
4. strong connection with Asia
• 3. educated workforce
• The U.K , Russia, Germany and the U.S
all have which type of economy?
• 1. traditional
• 2 command
• 3. mixed
• 4. market
• 3. mixed
• Which of the following nations recently
experienced reunification and had to unify
two different economic systems?
• 1. Russia
• 2. Poland
• 3. Germany
• 4. United Kingdom
• 3. Germany