How an Economy Grows and... (chap. 4)

Did industrialization make food, products, and energy cheaper or more expensive?

• No significant change in value

• More expensive

• Cheaper

What does the word prudent mean?

• Interested in a significant investment

• acting with or showing care and thought for the future

• caring for immediate satisfaction

• Thinking of past investments only

What does the word functional mean?

• Something that everyone can appreciate.

• Something that is very expensive, but of good quality,

• Designed to be interesting and very arty

• designed to be practical and useful, rather than attractive.

What does culinary mean?

• Of great significance

• Of great art

• Of or for cooking.

• Of or for economics

What does industrial mean?

• The use of factories and machines significantly increase production.

• The use of cheap labor to increase production and lower price.

• The of highly trained workers to increase productivity.

• The lowering of taxes to encourage economic activity.

What does revolutionize mean?

• To keep things the same.

• To make a great change

• To make something better than it was before.

• To advance an economy

What does joint venture mean?

• When people of many nations get along with one another

• When one party owns all the means of production and is, thus, very strong.

• When two or more parties go into business together it is called a joint venture.

• When one goes on a fun adventure

What does the phrase potential risk mean?

• The reasonable assumption that things will always go well.

• The certainty of safety

• The possibility of something interesting happening

• The possibility of something bad happening

What does the word automation mean?

• Developed by intelligent people to create a safe environment

• operated by cheap labor to secure a cheaper price

• operated by largely automatic equipment/machines

• Developed by the government to make cheap loans

What does abundant mean?

• having plenty of

• having money

• having a lack of

• Having the right to make loans to others