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European Economics

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1.
5 points
The economic system of communist countries is closely related to which of the following?
2.
5 points
Which term best describes an economic system in which the people own land, factories, and businesses.
3.
5 points
Which of the following is found in a market economy?
4.
5 points
Which of these is the reason that eastern Germany has a poorer economy than western Germany?
5.
5 points
A person who has an idea and has the money to invest in his idea can create a business. This is an example of

6.
5 points
With the end of the Soviet Union, Russia has attempted to improve its economy by making it more of a
7.
5 points
One benefit to having one currency like the Euro in the European union is
8.
5 points
One barrier to trade between the United Kingdom and other countries within the European Union is that the United Kingdom
9.
5 points
When two countries rely on each other for things they must have to make their economy work, this is called....

10.
5 points
The United Kingdom is one of the leading fishing nations in the world because
11.
5 points
True or False:
The currency used in the United Kingdom is the pound
12.
5 points
Consumers benefit from lower prices in the European Union's single market because
13.
5 points
France, Belgium, Italy, Portugal, Spain.

All of the countries listed above use what currency?
14.
5 points
Which of the following BEST describes a market economy?
15.
5 points
True or False:
When a country has a market economy the government controls most of the businesses.
16.
5 points
Germany, Russia, and the United Kingdom have what type of economy?
17.
5 points
True or False?
Germany has a higher GDP than Russia and the United Kingdom.
18.
5 points
Which word has the same meaning as "tariff"?
19.
5 points
According to the economic continuum that we drew on the board during class, which country is closest to command?
20.
5 points
In a command economy, who decides what to produce, how to produce, and when to produce?
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