Transcript Political and Economic Systems Test Review

Political and Economic Systems
Test Review
What happened to Germany after 1989?
1. Became rich
2. Changed to communism
3. reunification and had to unify two different
economic systems
4. Changed to parliamentary sstyem
• 3. reunification and had to unify two different
economic systems
• 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
• What quality does Russia stress most in its
economy?
• 1. resources
• 2. oil
• 3. government
• 4. educated workforce
• 4. educated workforce
• 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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What type of capital is an employee/ worker
1. market capital
2. state capital
3. capital good
4. human capital
• 4. human capital
• 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
• What economic system does the government
have the biggest impact?
• 1. mixed
• 2. command
• 3. traditional
• 4. market
• 2. command
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Presidential and Parliamentary
systems have the following in
common:
1. democratic forms of govt
2 leader types
3. ways the power is distributed
4. currency
• 1. democratic forms of govt
• What did E. Germany adopt from W. Germany
after unification?
• 1. farming methods
• 2. education
• 3. the Euro
• 4. industrialization
• 2. education
• 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 economic system is characterized by the
least amount of change?
• 1. mixed
• 2. command
• 3. traditional
• 4. market
• 3. traditional
• 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
• 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
• 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
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A tax on an import is a
1. quota
2. tariff
3. embargo
4. sale
• 2. tariff
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One benefit of international trade is
1. trade
2. currency exchange
3. increased wealth
4. economic independence
• 3. increased wealth
• Private businesses are part of command
economies?
• 1. TRUE
• 2. FALSE
• 2 FALSE
• 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
• A place or situation where money from
different countries is bought and sold for a
price is…
• 1. economic growth
• 2. GDP
• 3. exports
• 4. currency exchange
• 4. currency exchange
• use of income today in a way that allows
growth in the future
• 1. economic growth
• 2. GDP
• 3. investment
• 4. capital goods
• 3. investment
• 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
• way in which a nation uses its resources to
satisfy people’s needs and wants
• 1. economic system
• 2. scarcity
• 3. GDP
• 4. market economy
• 1. economic system
• economic system that has features of
traditional, command and market systems
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1. market
2. mixed
3. command
4. traditional
• 2. mixed
• exchange of goods and services between
countries
• 1. import
• 2. export
• 3. trade barrier
• 4. international trade
• 4. international trade
• goods and services traded with or sold to
other countries
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1. scarcity
2. export
3. import
4. trade
• 2. export
• word used to describe conflict between
people’s desires and limited amount of
resources
• 1. scarcity
• 2. export
• 3. import
• 4. trade
• 1. scarcity
• goods brought into country from another
country through trade or sale
• 1. scarcity
• 2. export
• 3. import
• 4. trade
• 3. import
• allows business owners to compete in market
with little government control (owner decides
everything about business- capitalism
• 1. market
• 2. mixed
• 3. command
• 4. traditional
• 1. market
• total value of the goods and services produced
in a country during a given period of time
• 1. economic growth
• 2. capital goods
• 3. investment
• 4. GDP
• 4 GDP
• any law or practice a government uses to limit
free trade between countries. Can also be a
physical feature (ex. Mountains
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1. scarcity
2. export
3. import
4. trade barrier
• 4. trade barrier
• someone who brings together labor, land and
capital goods to produce goods and services.
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entrepreneur
human capital
capital goods
natural resources
• 1. entrepreneur
• governmental system in which the central
government makes ALL laws for the country
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• 1. confederation
• 2. unitary
• 3. autocratic
• 4. federation
• 2. unitary
• citizens in this type of system have no say in
how the government system is run.
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1. confederation
2. unitary
3. autocratic
4. federation
• 3. autocratic
government led by king or queen.
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multi-party system
monarchy
one-party system
democracy
• 2. monarchy
• All countries must have an economic system
because..
• 1. scarcity of productive resources
• 2. to stay organized
• 3. to get a common currency for its nations
• 4. 1 & 2 only
• 4. 1 & 2 only