Grade 6 SS Econ. & Env. Latin Am.

What type of economic system is based on customs, beliefs, and history, with economic decisions based on how they were made in the past?

• Market economy

• Command economy

• Traditional economy

• Mixed economy

Which of the following best describes a command economy?

• Economic decisions are made by individual consumers and producers.

• Economic decisions are made by the government.

• Economic decisions are based on customs and traditions.

• Economic decisions are made through a combination of market and government decisions.

What is globalization?

• The process of countries isolating themselves from the world economy.

• The process by which businesses or other organizations develop international influence or start operating on an international scale.

• A policy focused on local trade only.

• The act of a country's economy collapsing.

Which of the following is an example of a renewable resource?

• Oil

• Coal

• Solar energy

• Natural gas

What is the main purpose of tariffs in international trade?

• To increase the speed of goods being traded

• To decrease the cost of imported goods

• To protect domestic industries from foreign competition

• To encourage the use of local resources only

Which of the following best describes the term "sustainable development"?

• Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.

• Rapid industrial development without considering environmental impacts.

• The use of natural resources at a rate that depletes them.

• Focusing solely on economic growth.

What is the primary goal of a market economy?

• To ensure that all goods and services are distributed equally among the population.

• To allow the government to control the means of production.

• To let supply and demand determine the prices of goods and services.

• To prevent any form of international trade.

Which of the following environmental issues is primarily caused by deforestation?

• Air pollution

• Loss of biodiversity

• Oil spills

• Ozone layer depletion

What role do natural resources play in a country's economy?

• They have no significant impact on the economy.

• They only affect the country's domestic trade.

• They can determine a country's wealth and its ability to trade with other countries.

• They are only important for countries with a command economy.

How does a mixed economy differ from a pure market or command economy?

• It is solely based on traditional customs and beliefs.

• It combines elements of both market and command economies.

• It completely eliminates the role of the government in economic decisions.

• It does not allow private ownership of businesses.