1
The United Kingdom is a Parliamentary Democracy type of government. True or False
True
This is the term for Germany's Head of Government.
What is chancellor
Producing only what is necessary for personal use/survival
What is Subsistence
The United Kingdom is closer to this type of economy on the Mixed Economic continuum than Russia.
What is pure market economy
An economic model governed by custom, habit, and history
What is Traditional Economy
An economic model which the laws of supply and demand (not government oversight) determine what is produced/consumed and at what cost
What is Market Economy
The Head of State has MORE power than the Chief Executive. True or False
What is False.
Term used to describe the market/command blending of all modern world economies
What is Mixed Economy
An economic term used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom
What is economic system
An economic model wherein government planners make all business and financial decisions
What is command economy
A 0-100 scale which ranks world economies from most command-leaning (0) to most market-leaning (100)
What is Economic Continuum
The creation, maintenance, and expansion of businesses outside the control or influence of the government.
What is Free enterprise
Germany is a Parliamentary Democracy type of government. True or False
True
The required amount of a specific good that must be produced in a given timeframe
What is Production Quota
Most governments in Europe are this type of government in which the people hold the ultimate power.
What are Democracies
This is the term for Russia's Head of Government
What is President
Most countries in Europe have this type of government.
What is Parliamentary democracy
Term for one’s financial earnings
What is Wage
The Chief Executive is also known as this.
What is Head of Government.
The average annual income for a nation's citizens; the term meaning "by each head" in Latin
What is GDP per capita
A few small tribes in Russia still live in this type of economy. These indigenous people barter with other tribes.
What is Traditional Economy
Russia's president is directly elected by the Russian citizens. True or false
What is True
This is the term for the total value of all the goods and services produced in a country for one year.
What is Gross Domestic Product
The capacity of private citizens to create new businesses independent of government direction or intervention
What is Entrepreneurship
This part of Europe has the highest GDP per capita. Eastern Europe or Western Europe?
What is Western Europe