5 Questions
What term is used to describe China's transition from a socialist economy to a free market economy?
Capitalist market economy
Which company accounts for 80% of China's online shopping?
Alibaba
In terms of population, which country has a population of about 1.4 billion?
China
What is the term used to describe an economic system where the government controls all resources and means of production?
Command economy
Which country does NOT follow a 'socialist market economy' model?
Sweden
Test your knowledge on Chapter 1 'The U.S. Business Environment' from the book 'Business Essentials Twelfth Edition'. Learn about China's transition to a socialist market economy and the dominance of Alibaba in the online shopping sector.
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