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World Cultures > Econ And Gov Test Review > Flashcards

Econ And Gov Test Review Flashcards

1
Q

What are the three basic questions that every economic system Must answer?

A

What good/services are made? How will they be made? Who will consume them?

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2
Q

What are the three Economic systems?

A

Traditional, command, and market

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3
Q

The former Soviet Union was an example of what kind of economic system?

A

Command

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4
Q

Which economic system allows for the most individual freedom?

A

Market

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5
Q

In which economic system does the goverment have most control?

A

Command

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6
Q

In which economic system do individuals do things based on customs or beliefs?

A

Traditional

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7
Q

What is the economic system of most communist countries?

A

Command

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8
Q

How do traditional economies exchange goods?

A

Bartering

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9
Q

Which country is closest to to a true market economy?

A

United States

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10
Q

Most democratic countries have which type of system?

A

Market

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11
Q

The goverment makes all economic desiciones

A

Command

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12
Q

In this system your parents were peanut farmers, now you have to be a peanut farmer too.

A

Traditional

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13
Q

Most democratic countries are this.

A

Market

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14
Q

Cuba is close to having this type of system

A

Command

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15
Q

Business(run by private citizens) determine what goods/services are produced and how they will be made

A

Market

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16
Q

Which economic systems use bartering instead of money

A

Traditional

17
Q

Communist countries are closely related to this type of economic system

A

Command

18
Q

Businesses make economic desiciones, but the goverment regulates them to make sure they’re safe/fair.

A

Market

19
Q

Australia’s economic system is close to this

A

Market

20
Q

A literate person is one who can

A

Read and write

21
Q

What does literacy rate mean?

A

How many people in a certain place that are 15 and up who can read and write

22
Q

Is the literacy rate of most European countries high or low?

A

High

23
Q

Why do you think it is this way?

A

The European leaders invested in human capital

24
Q

What is standard of living?

A

It measures how well off people are in a country

25
Q

What is the relationship between literacy rate and standard living?

A

If one is low so is the other, if one is high so is the other

26
Q

Describe the cycle of poverty

A

Once a community reaches poverty, it is basically stuck there for generations

27
Q

What things can a literate person expect to have in his or her life?

A

A high standard living

28
Q

What are 2 types of goverment?

A

Limited and umlimited

29
Q

Give an example of a limited govt ruler

A

President, constitutional monarchy

30
Q

Which type of goverment is not limited by any laws?

A

Unlimited goverment

31
Q

Give an example of an unlimited goverment ruler

A

Dictator, absolute monarchy

World Cultures (2 decks)

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