Social Studies - Midterm Review - Semester 2

Social Studies

Midterm Review - Semester 2

• Four factors of production

• Economic sectors

• Types of banks/financial institutions

• Circular flow of economic activity

• Developing vs developed countries

• Economic characteristics

• Economic problems

​Primary...

Natural resources / raw materials

Multiple Choice

Forestry and mining belong to which economic sector?

• Primary

• Secondary

• Tertiary

• Quarternary

​Secondary...

Manufacturing

Tertiary..

services

Quarternary..

Research

Multiple Choice

Which of the following is an example of a developing country?

• Good access to education

• Good access to education

• Focus on the primary sector

• Have a high GDP

​Developed countries...

• ​Have a high GDP

• ​Have good access to healthcare and education

• ​Focus on secondary, tertiary and quaternary sectors

• ​Have a strong economy

​Developing countries...

• ​Have a low GDP

• ​Limited access to healthcare and education

• ​Focus on the primary sector

Multiple Choice

Which of the following is NOT a  problem of the Thai economy?

• Thailand has competitors for exports.

• Thailand is lacking in technology

• Problem of poverty.

• Unable to import goods.

Multiple Choice

What effect do other countries, such as China, have on the Thai economy?

• They are too big to compete with.

• They can produce cheaper goods.

• Thailand must import their goods.

• Thailand cannot produce the same goods as those countries.

Multiple Choice

Which of the following is NOT a characteristic of the Thai economy?

• Thailand lacks quality transportation.

• Thailand is an export country.

• Thailand relies on exporting rice.

• Problem with concentration of development.

Multiple Choice

Which of the following is not an example of capital?

• A factory.

• Machinery and tools.

• Money.

• Raw materials and resources.

Multiple Choice

What is an example of the quaternary sector?

• A shopping mall.

• A farm.

• A school.

• A university.

Multiple Choice

What is the central bank?

• The main bank of Thailand.

• A bank for the government.

• A bank that can help commercial banks.

• A democratic bank.

​Central bank...

• ​To maintain the stability of the national currency and money supply 

• ​Controlling loan interest rates

• ​Acts as the banker for the government and commercial banks

• ​Acting as a “lender of last resort” to the banking sector during times of financial crisis

Multiple Choice

What is an example of a developing country?

• Thailand

• Vietnam

• New Zealand

• Singapore

Multiple Choice

In the Circular Flow of Economics, where do shops fit in?

• Product market

• Resource market

• Individuals

• Business

Poll

How useful was this slide presentation?

• Very useful!

• Quite useful.

• A little useful.

• Not useful at all.