Business Essentials Chapter 1: U.S. Business Environment
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Questions and Answers

What term is used to describe China's transition from a socialist economy to a free market economy?

  • Authoritarian market economy
  • Capitalist market economy (correct)
  • Communist market economy
  • Totalitarian market economy
  • Which company accounts for 80% of China's online shopping?

  • Alibaba (correct)
  • Tencent
  • JD.com
  • Baidu
  • In terms of population, which country has a population of about 1.4 billion?

  • India
  • China (correct)
  • Russia
  • United States
  • What is the term used to describe an economic system where the government controls all resources and means of production?

    <p>Command economy</p> Signup and view all the answers

    Which country does NOT follow a 'socialist market economy' model?

    <p>Sweden</p> Signup and view all the answers

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