Economics Test Review

In a small country where many people struggle to find good jobs, which issue would most likely make it harder for people to improve their lives?

• Improved agricultural technology means more people work in agriculture.

• Low birth weights cause negative population growth.

• Low literacy rates limit job options.

• High GDP per capita increases demand for international goods.

Maria shares photos from her trip to Brazil on a global photo-sharing app, and people from different continents comment on them. This demonstrates —

• how globalization increases global interaction

• how globalization affects local traditions

• how globalization causes economic decline

• how globalization limits communication

Emma is analyzing the impact of global trade on nations. She notices that as countries engage more in international trade, their economies often expand and ___ generally improves.

• unemployment rate

• standard of living

• isolationism

• subsistence farming

Emma wants to expand her business internationally. Which statement best explains a factor that could help her company succeed in the global market?

• Urbanization reduces the need for international trade

• Globalization allows companies to access new markets

• Economies are isolated from each other

• Industrialization is rare in developed countries

Which economic system allows businesses the most freedom to set prices and choose what products to offer?

• Free Enterprise

• Socialist

• Traditional

• Communist

Anika is studying the Indonesian economy for her school project. She learns that the government controls some key sectors and regulates certain prices, but private companies are allowed to operate and many are listed on the stock market. What type of economic system does this describe?

• capitalist

• free enterprise

• socialist

• communist

During a school debate, Aria argues in favor of a communist economic system. Which argument would an opponent of Aria's position most likely use?

• Workers should labor together to benefit all members participating in the economy.

• There ought to be equality amongst all laborers in order to achieve a classless society.

• Individuals must be given the right to make their own choices in producing and selling goods.

• People's basic needs should be met by the government making decisions about major industries.

Scarlett lives in a country where the government has complete control over all resources and production, and there is no private ownership. On the spectrum above, at which point would her country be placed?

• Point A

• Point B

• Point C

• Point D

Mia is studying agriculture in different countries. She finds an image showing people harvesting crops by hand in Kenya and another image of a tractor working in a field in the United States. Which inference about agriculture is supported by the image?

• Kenya has no agriculture.

• Kenya is less developed than the United States.

• Kenya and The United States both use commercial agriculture.

• Kenya is more developed than the United States.

Which characteristic is most likely found in a rural village with a traditional economy compared to an urban area?

• Most people rely on farming and handmade goods for their livelihood.

• Residents have more job opportunities in large companies.

• People have greater access to public transportation and modern infrastructure.

• Most residents work in offices and factories.