Froggy Jumps Across the PondOnline version Help the frog hop across the pond by correctly answering questions about economic systems and economies across the ocean in Europe- specifically Germany, Russia, and the UK. by Jordan Marshall 1 You are a small business owner and you sell computer gaming consoles to teenagers & young adults because they're easy to build, popular, and highly profitable. You set prices based on your stock & weekly sales. Which type of economy do you have? a command b socialist c market 2 In a traditional economic system people usually exchange goods or services rather than use money. Which of the following is an example of this exchange process? a exchanging Pokemon cards b charging goods on a credit card c writing a check for a service 3 Which of the following is found in a market economy? a guaranteed annual pay raises b government control of agriculture c competition and freedom 4 The United Kingdom Customs Service has found toxic lead-based paint in toys imported from a Chinese toy-making company. What type of trade barrier would guarantee that no child in the United Kingdom would be exposed to the deadly lead-based paint? a quota b embargo c tariff 5 The United Kingdom's Parliament votes to increase tariffs upon goods from another country. This is an example of... a ...a socialist congress preventing free enterprise. b ...a communist government allowing freedom of speech. c ...a representative democracy restricting trade. 6 The Prime Minister of the UK is forming a plan to improve the economy by rewarding companies who provide education to employees, so workers will be prepared for the high-tech jobs of the 21st century." His plan is based on the conclusion that... a an investment in capital goods will increase the country’s gross domestic product (GDP) b an investment in human capital will increase the country’s gross domestic product (GDP) c adjusting the exchange rate will increase the profit the U.S. makes in international trade 7 A 6th−grade class decides to open a popcorn stand. The stand and the popcorn popper are examples of which factor of production? a human capital b natural resources c capital resources 8 In which country would you most likely have the most difficulty opening a new business? a Germany b Russia c United Kingdom 9 What is used to determine the value of one currency against another? a exchange rate b a balance scale c coin slot machine 10 Which of the following provides the best indication of a country's standard of living? a gross domestic product b life expectancy c gdp per capita
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