D270 Final Quizlet Garcia Questions and Answers
What are the three types of command, market, mixed
economic systems?
What are the three BRIC countries Brazil, Russia, India and China
What economic system did the Market but now shifting toward mixed due to tarrifs
Republicans used to abide by?
, Gov and private ownership mixed in allocating economic
Define Mixed Economy resources, optimizes efficiency, happens in mostly free countries,
2nd most productive type behind market and preempts self
interest
Economic Freedom index Has twelve key areas and higher the score the better
Relationship between Economic The greater the Economic Freedom, the higher per capita income
Freedom and Income
What has happened in the past The world's EF has gone up, while the US's EF has gone down
two years with Economic
Freedom?
Out of the six counties we Australia and India
studied, which one had the
highest economic freedom and
the lowest economic
freedom?
What are other positives to High Low inflation and low unemployment
economic freedom
Chapter 4 case 2: What will the major generational shifts, AI is becoming more important , 4th
developed countries in the West industrial revolution makes major shifts in generations
do with the changing business
world?
What did Garcia say was the best A benevolent dictatorship then goes to a democracy since it works
type of government for an in the short term and can make changes very quickly
economic system?
Government control, corruption, volatility and efficient channels
Challenges in emerging economies
(economic conditions)
Reasons for Economic Indexs Complexity, dynamism, interdependence and overload
What is GNI? Market value of final goods/services and domestic owned factors of
production
What is desirable for potential High pop and high per capita
when looking at GNI and GDP?
What is GDP? Focuses on things produced within the countries borders
What type of countries produce Small countries bring in more than they send out and countries
more GDP than GNI? with a lot of banks results in this
the rate of conversion of one country's currency to purchase the
What is purchasing power parity?
same goods in another country
Which countries tend to have higher Inexpensive countries
PPP?
What do G7 countries have in Very high human development index, advanced economies and top 15 for per
What are the three types of command, market, mixed
economic systems?
What are the three BRIC countries Brazil, Russia, India and China
What economic system did the Market but now shifting toward mixed due to tarrifs
Republicans used to abide by?
, Gov and private ownership mixed in allocating economic
Define Mixed Economy resources, optimizes efficiency, happens in mostly free countries,
2nd most productive type behind market and preempts self
interest
Economic Freedom index Has twelve key areas and higher the score the better
Relationship between Economic The greater the Economic Freedom, the higher per capita income
Freedom and Income
What has happened in the past The world's EF has gone up, while the US's EF has gone down
two years with Economic
Freedom?
Out of the six counties we Australia and India
studied, which one had the
highest economic freedom and
the lowest economic
freedom?
What are other positives to High Low inflation and low unemployment
economic freedom
Chapter 4 case 2: What will the major generational shifts, AI is becoming more important , 4th
developed countries in the West industrial revolution makes major shifts in generations
do with the changing business
world?
What did Garcia say was the best A benevolent dictatorship then goes to a democracy since it works
type of government for an in the short term and can make changes very quickly
economic system?
Government control, corruption, volatility and efficient channels
Challenges in emerging economies
(economic conditions)
Reasons for Economic Indexs Complexity, dynamism, interdependence and overload
What is GNI? Market value of final goods/services and domestic owned factors of
production
What is desirable for potential High pop and high per capita
when looking at GNI and GDP?
What is GDP? Focuses on things produced within the countries borders
What type of countries produce Small countries bring in more than they send out and countries
more GDP than GNI? with a lot of banks results in this
the rate of conversion of one country's currency to purchase the
What is purchasing power parity?
same goods in another country
Which countries tend to have higher Inexpensive countries
PPP?
What do G7 countries have in Very high human development index, advanced economies and top 15 for per
