political and economic systems test review. this system is where some laws come from the central...
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Political and Economic Systems Test Review
This system is where some laws come from the central government, and some laws come from each state?
1. Unitary2.Confederation 3.Federal4.Parliamentary
• 3. Federal
• The U.K , Russia, Germany and the U.S all have which type of economy?
• 1. traditional• 2 command• 3. mixed• 4. market
• 4. market
• Which economic system has features of traditional, command and market systems?
• 1. Market• 2. Traditional• 3. Mixed• 4. Free Market
• 3. mixed
• 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
• What type of capital is an employee/ worker• 1. market capital• 2. state capital• 3. capital good• 4. human capital
• 4. human capital
• Which system is where social roles and culture determines how goods are made, sold and bought?
• 1. Mixed• 2. Command• 3. Free Market• 4. Traditional
• 4. Traditional
• What economic system does the government have the biggest impact and control of the economy?
• 1. mixed• 2. command• 3. traditional• 4. market
• 2. command
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
• 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
True or False?
• A quota is the limit a government places on goods that can be imported from another country
• 1. True• 2. False
• 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
• A tax on an import is a• 1. quota• 2. tariff• 3. embargo• 4. sale
• 2. tariff
• Trade between countries around the world is called…
• 1. International trade• 2. currency exchange• 3. embargo• 4. economic guarantees
• 1. International trade
• 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… (ex. I go to Germany and have to swap my dollars for Euros)
• 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. supply and demand• 2. scarcity• 3. GDP• 4. market economy
• 1. supply and demand
• economic system that has features of traditional, command and market systems
• 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
• 1. scarcity• 2. export• 3. import• 4. trade
• 2. export
• word used to describe conflict between people’s desires (wants) and the 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
• When a government limits free trade between countries (embargo, tariff, quotas). Can also be a physical feature (ex. Mountains) or wars, weather, etc.
• 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. They take risks to start a business.
• 1. entrepreneur• 2. human capital• 3. capital goods• 4. natural resources
• 1. entrepreneur
• governmental system in which the central government makes ALL laws for the country
• • 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.
• 1. confederation• 2. unitary• 3. autocratic• 4. federation
• 3. autocratic
government led by king or queen.
• 1. multi-party system• 2. monarchy• 3. one-party system• 4. democracy
• 2. monarchy
• The United States, Germany and the U.K. are examples of a(n) ______ economic system.
• 1. Command• 2. Market • 3. Traditional • 4. Democratic
• 2. Market
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