Category : Economics

European Economic Quiz: How Much You Know About European Economic?

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Questions & Options

1. When was European Economic Community {EEC} founded?

145024 In the year 1957
145025 In the year 1958
145026 In the year 1959
145027 In the year 1967

2. Which of the following mottos of the European Economic Community?

145028 Economic integration was to be established among the founding members (six)
145029 Including a common market
145030 Customs Union
145031 All of the above

3. Which of the following type of economic systems do most European countries have?

145032 Mixed, Mostly Market
145033 Mixed, Mostly Command
145034 Mixed, Mostly Communist
145035 All of the above-mentioned

4. Which one economic system includes Gov ownership of land, resources, and major industries?

145036 Traditional
145037 Market
145038 Command
145039 None of the above

5. Which are ways that the European Union increased trade between member nations?

145040 Creation and use of the euro
145041 Eliminated tariffs on trade between member nations
145042 Both of the above
145043 None of these

6. Which is the benefit of having few trade barriers between European Union countries?

145044 Creation and use of the euro
145045 Eliminated tariffs on trade between member nations
145046 Increased trade between countries
145047 All of the above

7. Add training or education of workers is an example of which factor of production?

145048 Human Capital
145049 Entrepreneurs
145050 Capital Goods
145051 All of the above

8. How do investing in Capital Goods increase profits?

145052 It increases productivity by allowing faster production
145053 It improves the quality of the natural resources
145054 It educates workers
145055 None of these

9. Which of the following European country listed is the least free?

145056 United Kingdom
145057 France
145058 Russia
145059 Germay

10. Which of the following effect did the creation of the Euro have on the member countries of the European Union?

145060 Decreased production of goods and services
145061 Increased literacy rate
145062 Increased trade
145063 All of the above

11. Which alphabet letter on the economic continuum would BEST represent Germany?

145064 A alphabet
145065 B alphabet
145066 C alphabet
145067 D alphabet

12. The EU and UK have reached a post-Brexit trade deal, ending months of disagreements over:

145068 Fishing rights
145069 Future business rules
145070 Both of the above
145071 None of these
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