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The economic system of communist countries is closely related to which of the following?
Which term best describes an economic system in which the people own land, factories, and businesses.
Which of the following is found in a market economy?
guaranteed yearly pay raises
government control of industry
government control of agriculture
Which of these is the reason that eastern Germany has a poorer economy than western Germany?
Germany spends a large amount of money on the military.
Most eastern German industries are owned by foreigners.
East Germany has had to switch from a command economy.
A person who has an idea and has the money to invest in his idea can create a business. This is an example of
With the end of the Soviet Union, Russia has attempted to improve its economy by making it more of a
One benefit to having one currency like the Euro in the European union is
People can travel more easily when many countries accept the same currency
Products and services cost less in euros than they do in other countries.
Products and services cost less in euros than they do in other currencies.
One barrier to trade between the United Kingdom and other countries within the European Union is that the United Kingdom
has large import tariffs
will not trade with the European Union
trades with the United States
does not use the Euro. They use the pound.
When two countries rely on each other for things they must have to make their economy work, this is called....
The United Kingdom is one of the leading fishing nations in the world because
People that live in the United Kingdom like to fish.
The United Kingdom is surrounded by water
The United Kingdom invented fishing
True or False:
The currency used in the United Kingdom is the pound
Consumers benefit from lower prices in the European Union's single market because
France, Belgium, Italy, Portugal, Spain.
All of the countries listed above use what currency?
Which of the following BEST describes a market economy?
Person can start any legal business and charge any price
The government provides food and housing to all workers
The government provides television and phones to the people
True or False:
When a country has a market economy the government controls most of the businesses.
Germany, Russia, and the United Kingdom have what type of economy?
True or False?
Germany has a higher GDP than Russia and the United Kingdom.
Which word has the same meaning as "tariff"?
According to the economic continuum that we drew on the board during class, which country is closest to command?
In a command economy, who decides what to produce, how to produce, and when to produce?
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