SS6E9B

Provide a real world example of Theocracy.

• Iran
• North Korea
• France

• Saudi Arabia

Describe the 4 Factors of Production and provide an example for each factor​ ​ ​ ​ ​ ​ ​​ capital​ (a)   ​ ​ ​ (b)   ​ (c)  

• Supply
• Demand
• entrepreneurship
• labor
• land

Define the terms "imports"

• Goods and services bought from foreign nations

• Goods and services sent to foreign nations

Define and give examples of agricultural, retail, manufacturing (goods), and service industries.

• Crops and Livestock

• Services

• Healthcare, Education, Banking

• Retail

• Auto or Electronic Manufactoring

• Agriculture

• Clothing Stores and Supermarkets

• Manufacturing/

  Goods

The role of citizens in a democracy is to serve on a jury and ____!

Which country is an example of a free enterprise, market economy?

• China

• Sweden

• United States

• North Korea

In a socialist economy, what is a primary focus?

• Government control of all industries

• Reducing economic inequality

• Encouraging private ownership

• Promoting entrepreneurship

What is an example of a natural resource?

• A computer

• A factory

• Oil/Natural Gas/Petroleum

• A teacher

What is Free Enterprise

• Sometimes called Capitalism/Market Economy

• Sometimes called Communisim

• Sometimes called Socialism

• Sometimes called Capitalization

What are some indicators used to describe the levels of economic development in various societies?

• GDP Per Capita

• Gross Domestic Product (GDP)

• Life Expectancy

• Literacy Rate