Economic Systems
Economic Activity
Natural Resources
Economic Development
Miscellaneous
100
(True or false) Does a traditional economic system deal with the exchange of money?
False
100
What is the gathering of resources for immediate use?
Primary Activities
100
What is a renewable resource?
A renewable resource is a resource that can easily be made faster than it is used up
100
In your own words define economy
An exchange of goods between a group of people
100
Per capita income
What is the average income of a person in a political unit over a certain amount if time?
200
Who controls a market economy?
Consumers
200
(True or false) When you add something to the original product to add value it is called quaternary activities?
False
200
Name three non renewable resources
Metals , coals , and natural gasses are possible answers
200
What does GNP stand for?
Gross National Product
200
What is the difference between GNP and GDP?
What is the difference between GNP and GDP GNP is the value if goods produced by a country and GDP is the total value of goods produced in a country
300
(True or false) Does the central government control a command economy?
True
300
What is the economic activities where business people and services are provided
Tertiary Activities
300
(True or false) Is sunlight an inexhaustible energy source?
True
300
Gross Domestic Products
What does GDP stand for?
300
What are natural resources?
Natural materials on Earth
400
What is a mixed economy?
A combination of market and command economies where everyone benefits
400
Information , management , and research services
Name three things that make up a quaternary activity
400
Renewable , non renewable , and inexhaustible
Name the three natural resources categories
400
Infrastructure
What are the basic needs to support an economy?
400
(True of false) Are countries with a low development usually are newly developed countries?
(True of false) Are countries with a low development usually are newly developed countries?True
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