Economic Systems
This type of economy relies on customs and traditions to determine production and distribution of goods.
What is a Traditional Economy?
Trade between two or more countries that is not forced and benefits all parties involved is known as this.
What is Voluntary Trade?
The presence of a skilled and educated workforce contributes to this factor of economic growth.
What is Human Capital?
These Asian countries struggles with severe air pollution due to rapid industrialization and high vehicle emissions
What are China and India?
Largest country in Asia suffering from environmental issues
What is China?
In this type of economy, the government makes all economic decisions, controlling resources and production.
What is a Command Economy?
This economic concept allows countries to produce goods more efficiently, leading to increased trade.
What is Specialization?
Investment in new technology and machinery leads to growth in this type of capital.
What is Capital Goods?
The pollution of this sacred river in India poses serious health risks due to industrial waste and sewage disposal.
What is the Ganges River?
Second largest country in Asia suffering from environmental issues.
What is India?
Most countries today, including China and India, operate under this type of economy, which blends elements of market and command economies.
What is a Mixed Economy?
A country places these on imported goods to encourage consumers to buy domestic products.
What are Tariffs?
Countries with strong protections for new inventions and business rights encourage this type of innovation or creativity.
What is entrepreneurship?
A major effect of pollution in the Ganges River is the spread of these diseases, which result from contaminated drinking water.
What are Waterborne Diseases?
Longest river in China also know as the Chang Jiang river
What is the Yangtze river?
In a command economy, the government owns and controls resources. This country in Asia is a well-known example of a strict command economy.
What is North Korea?
A country sets this limit on the number of goods that can be imported to protect domestic industries.
What is a Quota?
Among China, India, Japan, South Korea, and North Korea, this country has the lowest economic growth due to strict government control and limited foreign trade.
What is North Korea?
In India, seasonal monsoons bring heavy rains, which often lead to this environmental disaster that destroys homes and crops.
What is Flooding?
Other name for the Huang He river also known as "China's Sorrow" due to its disastrous flooding
What is the Yellow River?
The types of economic systems fall onto this "line graph" with Command on the left and Market on the right.
What is a Continuum?
This is a government order that completely stops trade with another country, often used for political or economic reasons.
What is an Embargo?
A country with a high percentage of people who can read and write tends to have a stronger economy because this factor increases productivity and innovation.
What is Literacy Rate?
Air pollution in China and India contributes to this global environmental issue, which causes rising temperatures and extreme weather.
What is Climate Change?
Name of the river in India sacred to Hinduism worshippers.
What is the Ganges River?