29 Questions
What determines a nation's productive resources?
All of a nation's productive resources
What is a key function of natural resources in a country's economy?
To establish markets for key products
Which country is rich in natural resources like copper, coal, and iron ore?
Japan
What is an example of a capital good?
Machinery
What happens when a country invests in its capital goods?
GDP increases
What is the result of investment in better machines and updated factories?
Production of goods and services increases
What is the role of entrepreneurs in the economy?
They help the economy grow by opening new businesses and developing new products
Why might an entrepreneur take a risk to start a business?
They want to invest their own money to start a business
What hinders entrepreneurship in some countries?
Government imposing high expenses on businesses
Which country has made it easy for entrepreneurs to set up businesses?
South Korea
How long does it take, on average, to start a new business worldwide?
21 days
How many days does it take to start a new business in Japan?
4 days
What do productive resources include?
Materials and labor used to create goods and services
What is the main role of natural resources in a country's economy?
To fuel industries and generate income through exports
What affects which industries develop in a country?
Availability of natural resources
What can be inferred about a country's standard of living when its GDP per capita is compared to that of the United States?
It is lower than that of the United States
Which Southeast Asian country has the lowest GDP per capita?
North Korea
What is the impact of natural resources on a region's standard of living?
It has a positive impact
What is the primary reason why many SE Asian countries are investing in colleges and universities?
To keep up economically
Which of the following countries has a self-reported national literacy rate of approximately 100%?
North Korea
What is the main challenge facing North Korea's economy despite its high investment in education?
Strict control of the Communist government
Which countries are investing aggressively in programs to train their people for specific jobs and industries?
India, Japan, China, and South Korea
What is the characteristic of education in North Korea?
It is universal and funded by the government
What is the significance of Cho's experience in education and technology?
To bridge the gap between education and technology
What is the consequence of a country's government imposing many regulations on businesses?
It is challenging for entrepreneurship
What is the name of the fashion e-commerce site founded by Vivy Yusuf?
Fashion Valet
What is special about the brand 'duck'?
It offers affordable and trendy hijabs for Muslim women
How has the government of South Korea treated entrepreneurship?
It has done an excellent job in supporting and training entrepreneurs
What happened to Glow Recipe after appearing on ABC's Shark Tank?
It became famous
This quiz covers the different types of productive resources, including natural resources, human capital, capital goods, and entrepreneurship. It explains their role in a nation's economy and how they contribute to the creation of goods and services.
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