Unit 5 Test Review

What is an example of a secondary economic activity?

• growing corn on a farm for export

• working in a plant, manufacturing cars

• growing just enough food for one’s immediate family

• managing a large multinational corporation

Which characteristic is typical of a less developed country?

• government does not interfere in the economy

• Entrepreneurs play a key role in the nation’s economy

• There is a high infant mortality rate and a short life expectancy

• There is a high literacy rate and a long life expectancy

What is subsistence farming?

• Families grow just enough food to feed themselves.

• Farmers grow food to sell to others

A mark of a newly industrializing country is the shift of more workers 

• From farming to commercial industry

• From commercial industry to knowledge industries

• Into tourism

• From commercial industry to farming

A country in which most people work in service or information industries and enjoy a high standard of living is a(n)

• Newly industrialized country

• More developed country

• Industrializing country

• Less developed country

In which of the following ways did the economy of the Soviet Union most differ from the US economy? 

• Focus on military production

• Level of skilled labor required

• Emphasis on technological innovation

• Manner of making production decisions

Which of the following are the main features of a capitalistic economic system?

• Private Ownership

• Profit Motive

• Both

When people meet their basic needs by doing what they have always done

• Traditional Economy

• Command Economy

• Free market economy

Where do many people use subsistence agriculture to meet their basic needs?

• Western Europe

• North America

• Sub-Saharan Africa

What type of agriculture depends on supply and demand? Farmers raise goods that give them the most profit.

• Subsistence Agriculture

• Commercial Agriculture

• Market Oriented Agriculture