WG B Study Guide Review-Final Exam

An economic system that is based on traditional agriculture and self-sufficiency is most likely to —

• involve the use of protective tariffs implemented by the government.

• utilize a barter system as the primary means of exchange.

• revolve around the use of a gold standard.

• rely on both local and national banks.

Read the headlines below.

• "Whistleblowers Shed Light on the Use of Child Labor in Developing Nations"

• "Clinton Appeals to the International Community to Combat Global Poverty"

• "UN International Literacy Decade Targets Women"

These headlines address which of the following concerns?

• Social and economic issues

• Inadequate access to higher education

• Cultural rejection of individual responsibility

• Problems associated with a lack of cultural literacy

Which continent is highlighted in the picture?

• North America

• South America

• Asia

• Africa

• Europe

Answer explanation

Read the headlines below.

• "Women of Kuwait Demand the Right to Vote"

• "Property Inheritance Still Limited for Women of Nepal"

• "Women in Jordan Form Alliance to Increase Political Representation"

From these headlines, one can conclude that —

• equality in education has been achieved by women worldwide.

• equal rights for women remains a significant global concern.

• women typically avoid involvement in political matters.

• women enjoy equal rights in most communist nations.

Which of the following is true in a mixed economy?

• Many profitable industries are nationalized for the economic benefit of the state.

• Consumer demand dictates what goods are produced and in what quantity.

• The state owns all means of production and makes all production decisions.

• Some industries are privately owned, while others are owned by the state.

Which continent is highlighted in the picture?

• North America

• South America

• Asia

• Africa

• Europe

Answer explanation

Sawyer is comparing different economic systems throughout history for a social studies project. During his research, he learns about a system in which all economic decisions are made by a group of planners. This group is responsible for assigning resources to the production of specific goods and services, and determining how to produce and distribute those goods and services. Which of the following is Sawyer most likely studying?

• The manorial economy of feudal Europe

• The market economy of the United States

• The command economy of the Soviet Union

• The mercantile economy of eighteenth-century Europe

Which of the following best defines subsistence farming?

• Producing a surplus of agricultural goods to be sold at market

• Producing just enough food to feed oneself and one's family

• Utilizing technology to increase agricultural production

• Utilizing domesticated animals for transporting goods

As a country develops, a decreasing percentage of its workers are involved in —

• tertiary activities.

• quaternary activities.

• secondary activities.

• primary activities.

Read the statement below.

Life in my village is rapidly changing. In the 1960s, a road was built through the center of the village to carry iron ore from the mines to ports some 50 miles away. Soon we were introduced to new products and eventually electricity. Today, we drink soda out of plastic cups, watch television with our families, and go to the cinema.

What conclusion can be drawn from this statement?

• job opportunities are scarce in villages.

• Technology eliminates cultural traditions.

• Modernization often significantly alters village life.

• Transportation technology has little effect on villages.