2025-2026: Bundle 2 Exam Review

Who controls and owns everything in a communist system?

• The people

• The businesses

• The government

What economic sector generates research and new knowledge?

• Primary

• Quaternary

• Secondary

• Tertiary

Which economic sector collects natural resources from the environment?

• Primary

• Secondary

• Tertiary

• Quaternary

A developing country will have a...

• high GDP per capita

• lower GDP per capita

A developed country will have a...

• High Life Expectancy

• Low Life Expectany

Where would people likely take place in subsitence agriculture and cottage industries?

• Rural settings
• Urban settings

What is subsistence agriculture

• When people farm to feed themselves
• When people farm to make money

What is a cottage industry?

• When people make goods in a home
• When poeple make goods in a factory

The part of the economy that transforms the raw materials into goods for sale: factory workers or people who make things out of raw materials (a weaver would make clothing out of cotton)

• Primary economic activity

• Secondary economic activity

• Tertiary economic activity

• Quaternary economic activity

Urban means...

• To move

• In the city

• Out in the country

• Grow