Materials in or on the earth that have economic value.
What are natural resources?
100
These are the four basic economic systems.
What traditional, command, market, and mixed economies?
100
At this level of economic activity natural resources are taken from the land.
What is the primary level?
100
Examples of resources at this level of economic activity include farmland, forests, and oceans.
What is the primary level?
100
Many economists believe that industries like gasoline and plastics will soon die out because they are based on this kind of resource (renewable, non-renewable, inexhaustible).
What is non-renewable?
200
The production and exchange of goods and services among a group of people.
What is an economy?
200
These are the three kinds of resources.
What are renewable, non-renewable, and inexhaustible resources?
200
At this level of economic activity value is added to a natural resource to produce a good.
What is the secondary level?
200
Examples of people who work in this level of the economy include accountants, editors, engineers, and salespeople.
What is the tertiary level?
200
These economies of these countries are mostly based on services because their level of infrastructure is very high.
What are MEDC's?
300
The basic support systems needed to keep an economy going.
What is infrastructure?
300
Things like level of technology and education, per capita income, and GNP are different ways to measure this.
What is level of economic development?
300
At this level of economic activity, people specialize in gathering and managing information.
What is the quaternary level?
300
These are 3 examples of essential capital.
What are land, machinery (factories), and office buildings?
300
Because many LEDC's have little or no infrastructure, they tend to practice this kind of economic system.
What is a traditional economy?
400
The average amount of money earned by each person in a political unit.
What is per capita income?
400
These depend on the resources of the land and how people use them.
What are economic activities?
400
These determine what a country can produce.
What are natural resources?
400
Transportation of finished goods takes place at this level of economic activity.
What is the tertiary level?
400
This indicator is used to measure economic infrastructure because it shows a country's level of education.
What is the literacy rate?
500
The total value of all goods and services produced within a country.
What is GDP?
500
The difference between these two measurements is that one measures the total production by a country while the other measures the total production within a country.
What are GNP and GDP?
500
These are three parts of infrastructure not yet mentioned in this game.
What are transportation, communication, and sanitation?
500
This term means a country imports more than it exports.
What is an unfavorable balance of trade?
500
The Soviet Union was a command economy that failed. China doesn't want the same thing to happen to it, so instead it has chosen to implement this kind of economic system.