SS 7 Module 7 Review

Creating a cost-benefit analysis can help consumers

• Get a better job.

• See their economic choices more clearly.

• Make good economic decisions.

• Both b and c.

The United States and most of the western world operate a

• Command system.

• Free enterprise system.

• Traditional economic system.

• Free-for-all system.

During the 1800s logging boom, which tree used to make furniture was stripped from many Arkansas forests?

• Poplar

• Maple

•  

  Black walnut

•  

  Beech

A ______ takes power away from consumers and gives it back to producers.

• demand

• monopoly

• surplus

• partnership

When someone buys stock in a company, it means they

• Have partial ownership.

• Receive a salary for jobs they do.

• Manufacture goods or services.

• Must hire managers to take over the day-to-day operations.

Which of the following allows people the largest number of career options?

• Regular exercise

• Natural intelligence

• Acquired skills, training, and education

• Luck

Being a “Right to Work” state means

• Arkansas is well organized.

• There are thousands of jobs available.

• Companies here sell products and services quickly and inexpensively.

• That most workers can’t be fired from their jobs because they choose to join or not join a union.

______ help protect American jobs and businesses from unfair foreign competition.

• Exports

• Tariffs

• Wampum

• Imports

Consumers must pay ______ for the privilege of borrowing money.

• Interest

• Late fees

• Taxes

• In cash

Several Arkansas companies and others save energy by turning products such as oils, fats, soybeans, and cottonseed into

• Freeze dried foods.

• Paper products.

• Food for animals.

• Biofuels