Quiz...

Quiz:

Free Market:

Fill in the blanks...

1.)    The cold war started in 1946 and ended in 1989.

2.)    The cold war was an economic struggle between capitalists and communist countries.

3.)    Under the leadership of the Soviet Union, communist country’s operated under a centrally planned economic system.

T&F...

4.)    T   Centrally planned economic system- Government planners decide what goods to produce and how much.

5.)    T   After the end of the cold war most soviet bloc countries like, Russia, Poland, and east Germany embraced the free market economy and looked to the United States for leadership and financial investment.

6.)    F   When China opened its doors to western business the free market did not expand.

Multiple choice...

7.)    By 2001 China decided to join the...

A)     Free market

B)     World trade©

C)     Free trade

D)    Trading blocks

8.)    The second largest country in the world is...

A)     China

B)     India©

C)     Japan

D)    Asia

9.)    During the cold war there were only 3 main trading blocs...

A)     South America, Eastern Europe, china

B)     Western Asia, Canada, USA

C)     North America, Western Europe, Japan©

D)    Japan, China, Canada

Free Trade...

Matching...

10. The general agreement on tariffs and trade                                                      1995

was established                                                 

11. GATT had membership of 131 countries,                                                             1989

accounting for more than the 90% of the

international trade.

12. The Free trade agreement (FTA) between Canada                                            1947

and the US came into effect.

13.FTA was extended to include Mexico.                                                            1993-2003

14. Mexican exports to Canada increased by

200% & Canadian exports to Mexico increased                                                       1994

by 25%           

Trading Blocks...

Short answer...

            15.) To become a member your country must...

Your country must also be committed to democracy and human rights.

                                                                                                                 .

16.) In 1999 a new trading bloc was created, what was it called and what does it

mean in the English language?

It was called Communidad Sudamericana de Naciones (CSN) and it means South

American community of nations.                                                                           .

17.)What is (CAN)?

CAN is ComunidadAnduna de Naciones and it means Andean Community of

nations.                                                                                                          

18.) What happened in May 2006?

In May of 2006 Venezuela signed an agreement to be part of the organization by 2012

                                                                                                                                            .

T&F...

T   In South American countries, the richest 20% of the population owns more than 60% of the wealth.

T   In South American countries the poorest 20% of the population only own about 5% of the wealth.