European Political and Economic Systems Test Review

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European Political and Economic Systems Test
Review
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An economic and political system in which
property is owned collectively and labor is
organized in a way that is supposed to benefit
all people.1 parliamentary2. monarchy3.
communism4. democracy
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• 3. communism

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• government led by king or queen.
• 1. multi-party system
• 2. monarchy
• 3. one-party system
• 4. democracy

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• 2. monarchy

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• An economic grouping of countries in Europe.
• 1. European Union
• 2. NATO
• 3. Warsaw Pact
• 4. Western Union

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• 1. European Union

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• system in which there is only one political party
  and only one candidate to choose from for each
  government position.
• 1. multi-party system
• 2 monarchy
• 3 one-party system
• 4. democracy

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• 3 one-party system

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• A republic whose head of government, usually a
  Prime Minister, is the leader of the political
  party that has the most members in Parliament.
• 1. Monarchy
• 2. Parliamentary Democracy/ republic
• 3 oligarchy
• 4. dictatorship

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• 2. Parliamentary Democracy/ republic

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• A government that receives its power from the
  people.
• 1. Monarchy
• 2. democracy
• 3. oligarchy
• 4. dictatorship

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• 2. democracy

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• A government in which a few powerful (usually
  rich!) individuals rule.
• 1. federal
• 2. democracy
• 3. oligarchy
• 4. dictatorship

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• 3. oligarchy

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• country or nation that is governed by a single
  person with unlimited power
• 1. federal
• 2. democracy
• 3. oligarchy
• 4. dictatorship/ autocratic

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• 4. dictatorship/ autocratic

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• individual states make their own laws and
  decisions and are loosely aligned to a weak
  central government.
• 1. federal
• 2. monarchy
• 3. unitary
• 4. confederation

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• 4. confederation

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• power to make laws and decisions for the people
  is shared between central government and states.
• 1. federal
• 2. monarchy
• 3. unitary
• 4. confederation

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• 1. federal

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• central government (federal) has all the power
  to make laws and decisions for the people. This
  doesnt necessarily mean this is a dictatorship.
• 1. federal
• 2. monarchy
• 3. unitary
• 4. confederation

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• 3. unitary

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• 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

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• 2. who is going to produce it

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• 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 whats for sale
• 4. traditional foods are gathered.

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• 3. the government decides the jobs of its
  citizens and whats for sale

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• One benefit of international trade is
• 1. trade
• 2. currency exchange
• 3. increased wealth
• 4. economic independence

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• 3. increased wealth

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• A tax on an import is a
• 1. quota
• 2. tariff
• 3. embargo
• 4. sale

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• 2. tariff

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• 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

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• 2. economic growth

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• 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

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• 1. communism

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• 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

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• 2. embargo

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• 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 peoples needs and wants

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• 3. system in which social roles and culture
  determines how goods are made, sold and bought

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• How does investing in human capital impact a
  nations 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

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• 4. all of the above

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• What did E. Germany adopt from W. Germany after
  unification?
• 1. farming methods
• 2. education
• 3. the Euro
• 4. industrialization

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• 2. education

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• All countries must have an economic system
  because..
• 1. scarcity of productive resources
• 2. to get a common currency for its nations
• 3. to stay organized
• 4. A B only

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• 1. scarcity of productive resources

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• What economic system does the government have the
  biggest impact?
• 1. mixed
• 2. command
• 3. traditional
• 4. market

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• 2. command

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• What economic system is characterized by the
  least amount of change?
• 1. mixed
• 2. command
• 3. traditional
• 4. market

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• 3. traditional

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• An economic concept that states the price of a
  good rises or falls depending on how many people
  want it and how much of the good is available
• 1. economic growth
• 2. supply and demand
• 3. scarcity
• 4. GDP

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• 2. supply and demand

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• What type of capital is an employee/ worker
• 1. market capital
• 2. state capital
• 3. capital good
• 4. human capital

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• 4. human capital

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• 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

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• 2. more human capital for your country

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• One of Russias economic strengths is its?
• 1. consistent leadership
• 2. command economy
• 3. educated workforce
• 4. strong connection with Asia

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• 3. educated workforce

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• The U.K , Russia, Germany and the U.S all have
  which type of economy?
• 1. traditional
• 2 command
• 3. mixed
• 4. market

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• 3. mixed

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• Which of the following nations recently
  experienced reunification and had to unify two
  different economic systems?
• 1. Russia
• 2. Poland
• 3. Germany
• 4. United Kingdom

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• 3. Germany