Factors of Economic Growth
Trade
Economic Systems
Extra Economy
Teacher Facts
100
Which industry accounts for the largest share of water consumption in the Middle East?
A. agriculture
B. fishing
C. mining
d. oil production
A. agriculture
100
Countries tend to specialize in producing goods and services that are relatively easy to produce with the resources they have available. This explains why Saudi Arabia specializes in
A. raising cattle.
B. making textiles.
C. extracting oil.
D. growing food.
C. extracting oil.
100
Which factor or factors account for the Israeli economy being among the most developed in all of Southwest Asia?
A. a rich diversity of plant and animal species
B. fertile soil and extensive areas of farmland
C. a strong financial sector and investments in technology
D. access to large amounts of valuable petroleum resources
C. a strong financial sector and investments in technology
100
Based on the economic continuum, where would most countries in Southwest Asia fall?
A. near point I
B. between points I and II
C. between points II and III
D. near point IV
C. between points II and III
100
Which of these is a talent Mrs. Smith has?
A. Juggling
B. Tap Dancing
C. Rapping
D. Acrobat
A. Juggling
200
How are literacy rates, standard of living, human capital, capital goods, and GDP connected?
A. Countries that spend a larger percentage of their GDP investing in human capital and capital goods experience increases in literacy rate, standard of living, and GDP.
B. Countries that spend a smaller percentage of their GDP investing in human capital and capital goods experience increases in literacy rate, standard of living, and GDP.
C. Countries that spend a larger percentage of their GDP investing in human capital and capital goods experience increases in literacy rate and standard of living and decreases in GDP.
D. Countries that spend a larger percentage of their GDP investing in human capital and capital goods experience decreases in literacy rate, standard of living, and GDP.
A. Countries that spend a larger percentage of their GDP investing in human capital and capital goods experience increases in literacy rate, standard of living, and GDP.
200
What is the best definition of economic specialization?
A. An economy in which the government controls the means of production.
B. An economy in which all economic barriers to trade have been eliminated.
C. An economy in which producers produce the goods they can create most efficiently and trade for others.
D. An economy in which producers look to the past in order to answer the three basic economic questions.
C. An economy in which producers produce the goods they can create most efficiently and trade for others.
200
Which economic sector contributes the most to Israel’s economy?
A. the agricultural sector
B. the petroleum sector
C. the financial sector
D. the mining sector
C. the financial sector
200
Saudi Arabia has a large amount of oil. The oil industry makes up over 90 percent of the country's gross domestic product. The country sells oil to other countries and purchases the goods its people need. What economic concept does this scenario best illustrate?
A. entrepreneurship
B. quotas
C. specialization
D. tariffs
C. specialization
200
Who is Mr. Wehner's favorite Star Wars character?
A. Boba Fett
B. Obi-Wan Kenobi
C. Emperor Palpatine
D. General Grievous
B. Obi-Wan Kenobi
300
Which economic relationship is directly proportional?
A. the relationship between economic regulations and gross domestic product
B. the relationship between national poverty levels and gross domestic product
C. the relationship between investment in human capital and gross domestic product
D. the relationship between increased militarization of society and gross domestic product
C. the relationship between investment in human capital and gross domestic product
300
What is a tariff?
A. a tax placed on goods imported from a country
B. a ban placed on all trade with a particular country
C. a tax on export goods paid to the exporting government
D. a limit on the amount of goods that can be imported from a country
A. a tax placed on goods imported from a country
300
Which economic system is least likely to experience a surplus of goods?
A. a command economy
B. a market economy
C. a mixed economy
D. a traditional economy
D. a traditional economy
300
A government seeking to accomplish which of the following would be likely to implement an embargo?
A. protect the jobs of domestic workers
B. increase the profits of domestic manufacturers
C. encourage a country to change a policy
D. expand consumer choice and economic opportunity
C. encourage a country to change a policy
300
What is the name of the D-Hall custodian?
A. Mr. Tony
B. Mrs. Nesbitt
C. Mrs. Fuller
D. Mr. Harold
A. Mr. Tony
400
What is a common result when businesses invest in the education and skills of their employees?
A. a decrease in overall profits
B. an increase in employee turnover
C. an increase in worker productivity
D. a decrease in international investments
C. an increase in worker productivity
400
What is the best definition of a quota?
A. a ban placed on all trade with a particular country
B. a tax placed on goods imported from a country
C. a tax on export goods paid to the exporting government
D. a limit on the amount of goods that can be imported from a country
D. a limit on the amount of goods that can be imported from a country
400
Which economic system is most likely to have the government set production quotas for specific goods?
A. a command economy
B. a market economy
C. a mixed economy
D. a traditional economy
A. a command economy
400
How is an embargo different from a quota or a tariff?
A. Embargoes can have a negative effect on domestic production.
B. Embargoes lead to reductions in foreign economic investments.
C. Embargoes cause an end to all trade across a range of goods.
D. Embargoes are often used to protect domestic industries.
C. Embargoes cause an end to all trade across a range of goods.
400
True or False: Mrs. Oliveri studied to be a model in elementary school and modeled for a store called Hinshaw's as a mannequin model.
True
500
Why might a government choose to improve education and literacy levels in its country?
A. Educated populations do not need to trade with other countries.
B. Educated populations have a higher standard of living than uneducated populations.
C. Educated populations are less likely to distrust the government.
D. Educated populations produce more agricultural goods than uneducated populations.
B. Educated populations have a higher standard of living than uneducated populations.
500
A country should economically specialize in producing which type of goods or services?
A. goods that its people do not require
B. goods that it can produce the most efficiently
C. goods that it can produce using few resources
D. goods that its trading partners specialize in
B. goods that it can produce the most efficiently
500
A mixed economy is an economy that blends private enterprise with some government involvement in economic decisions.
A. has both command and market elements.
B. relies on the use of currency as well as bartering.
C. relies only on supply and demand to determine production.
D. has a large industrial sector and a large agricultural sector.
A. has both command and market elements.
500
What impact does literacy typically have on an individual's standard of living?
A. It helps them compete for high-paying jobs.
B. It gives them the ability to work as unskilled labor.
C. It gives them access to tax breaks that others may not claim.
D. It helps them work with people who speak different languages.
A. It helps them compete for high-paying jobs.
500
How many bones has Mr. Wilkerson broke?
A. 1
B. 6
C. 8
D. Mama Mia there are to many to count
B. 6