An economy that operates as a mixture of command and market - business owners AND the government have some control
Things provided completly by nature AND can bring a country wealth ex: gold, natural gas
What is the relationship between literacy rate and standard of living?
The higher the literacy rate, the higher the standard of living
How does investment in physical capital (capital goods) increase a country's GDP?
The newer the machines, factories, and technology, the company can produce better quality products and those products are sold which increases the GDP.
How do entrepreneurs increase a country's GDP?
They start a business which gives people jobs and salaries...then those people buy other items which increases the country's GDP.
What keeps Russia from using its natural resources
Climate - most of northern Russia is tundra...ICE...they can not access the resources.
Economic systems address what issues?
What, how, and for whom products and services should be produced.
Why is a country better off NOT having to import natural resources?
Buying from other countries costs more money in the long run.
Every economic system address what issues?
What products will be made, who can make them, who can buy them and what will the price be?
How do natural resources affect the economy of a country?
When a country has natural resources, they can use them to produce goods or they can sell them to other countries, or use them as sources of energy.
Examples of investing in capital goods/physical capital...
constructing (building) a new factory, buying new sewing machines, new computers, etc.
In what way do entreprenuers help increase a country's GDP?
by creating businesses that give people jobs
In the United Kingdom, who decides which goods will be produced and sold?
the citizens and business owners
Which country owns most of the large and important industries with its borders? Russia, UK or Germany?
Which type of economy is least likely to be found in Europe? Market, Command or Traditional?
What are the main causes of acid rain?
burning of fossil fuels like coal and oil in cars and factories
rain containing acids that form in the atmosphere when industrial gas emissions (especially sulfur dioxide and nitrogen oxides) combine with water
What were some effects of the nuclear disaster in Chernobyl, Ukraine?
Drinking water was unsafe for months, trees and plants died, people and animals got sick
Why were other countries concerned about the nuclear disaster in Chernobyl?
Radioactive material fell on other countries through the air.