Southwest Asia Economy

Adolf Dassler was the founder of the German sportswear company Adidas. His brother Rudolf founded Puma. Both of these Germans are examples of which factor of production?

• capital goods

• human capital

• natural resources

• entrepreneurship

The United Kingdom has large deposits of coal, petroleum, natural gas, iron ore, lead, zinc, and gold. The country will use these items to create products to sell. Which factor of production is being used to increase the GDP?

• capital goods

• human capital

• natural resources

• entrepreneurship

In Country B, the government has offered incentives to companies that invest in improved technology and machinery in their factories. What factor of economic growth is the country working to improve?

• capital goods

• human capital

• natural resources

• entrepreneurship

In Country A, the government has offered incentives to companies that invest in continuing education and training for their employees. What factor of economic growth is the country working to improve?

• capital goods

• human capital

• natural resources

• entrepreneurship

According to an article in The Moscow Times from 2015, “Russia came first in the world for its rate of primary school completion, 10th for secondary education and 13th for post-secondary education.” This shows that Russia is investing in which factor of production?

• capital goods

• human capital

• natural resources

• entrepreneurship

Russia has a high literacy rate (99%), just like United Kingdom and Germany. However, the GDP of Russia is lower than that of United Kingdom and Germany. Which factors of production could Russia invest in to increase their GDP? (you will select more than one)

• capital goods

• human capital

• natural resources

• entrepreneurship

People that are willing to take risks and start new businesses or invent new items help to stimulate their countries economies. What factor of production does this represent?

• capital goods

• human capital

• natural resources

• entrepreneurship

Who takes a financial risk in starting a new business?

• Entrepreneur

• Economist

• Inventor

• Government planner

The number limit on how many items of a particular product can be imported from a particular country is the _______________.

• demand

• quota

• embargo

• tariff

Why do most countries in the world today fall somewhere between a market and a command economy?

• Some government control has never been successful.

• Government control always makes a market economy more profitable.

• Most consumers prefer government control to free market.

• Most countries have found they need a mix of free market and government control to be successful.