*Social Studies Test 4-2-21*

What options/obstacles might an illiterate person most likely have?

• low paying job

• no car

• a lower standard of living

• children who cant read or write

• none of these

The majority of citizens in third world countries with a low standard of living have...

• horses

• no car

• few opportunities for good education

To increase the standard of living and the literacy rate in a country, government and industry should invest in...

• human resources

• natural resources

• capitol resources

• none of these

Cuba has a high literacy rate but a lower standard of living. What is the best explanation as to why?

• no cars

• lots of opportunities but no free public education

• free public education but few opportunities

• too many resources

what are the three economic questions?

• what items need to be produced?

• why do these things need to be produced?

• how are we going to produce them?

• how much will it cost to produce them?

• who is going to buy it?

In which economic system do people make economic decisions based on supply and demand?

• traditional

• mixed

• command

• market

What is a good example of specialization?

• a business that doesn't produce any goods

• a business that focuses on producing one or two types of goods

• a business that focuses on producing many different types of goods

What type of trade barrier involves taxes on imports?

• embargoes

• import quotas

• Tariffs

Which Latin American country’s business would have the LEAST amount of government control/ regulation?

• Mexico

• Brazil

• America

• Cuba

Be able to understand one of these:

• I can

• I can't

• I'll study that picture

• I fully understand those