Economics and Authority (Unit 13)

What is the primary sector of the economy focused on?

• Retail and sales

• Service and management

• Extraction of raw materials

• High technology and automation

Which revolution led to the rise of factories and mass production?

• The Technological Revolution

• The Information Revolution

• The Industrial Revolution

• The Agrarian Revolution

What does socialism emphasize in its economic model?

• Unregulated markets

• Collective ownership and meeting basic needs

• Competition and consumer choice

• Private ownership and profit

What has the information revolution shifted the economy towards?

• Mining and extraction

• Manufacturing goods

• Service work and idea production

• Agricultural production

What role do corporations play in the modern global economy?

• They operate across national boundaries and influence global economics

• They play a minor role in economic systems

• They are declining in number and influence

• They operate within strict national boundaries