NEW
Font size
S
M
L
XL
WorksheetsChapter 5 Test Review
Total questions: 19
Worksheet time: 10mins
Name
Class
Date
1.
The dependence upon other countries resulting in the trade for goods and services
a)
Interdependence
b)
Capitalism
2.
A system of economics based on the private ownership of business and the products (goods and services) made and sold
a)
GDP
b)
Capitalism
3.
The total market value of all the goods and services produced by a country during a specified period
a)
Scarcity
b)
Gross Domestic Product
4.
A condition of limited resources and unlimited wants by people
a)
Scarcity
b)
Globalization
5.
The interaction between the various countries of the world
a)
Globalization
b)
Capital
6.
Refers to money; specifically financial assets or the financial value of someone's assets
a)
Globalization
b)
Capital
7.
An economic system based on public or collective (such as government) ownership of resources and production
a)
Economics
b)
Socialism
8.
The development and movement of goods and services through an economic system
a)
Chain of Production
b)
Capital
9.
The study of how a society manages its resources to produce and distribute goods and services
a)
Rationing
b)
Economics
10.
A process to control the amount of goods and services being used; typically when there is scarcity
a)
Rationing
b)
Secondary
11.
In which economic sector are raw materials turned into finished products?
a)
Secondary
b)
Traditional
12.
An economic system that is based on tradition and most often found in underdeveloped regions is called a _____________ economy.
a)
Traditional
b)
GDP
13.
The monetary value of all goods and services produced in a country in a year is called
a)
Supply and Demand
b)
GDP (Gross Domestic Product)
14.
A market economy is driven by the economic principle of
a)
Supply and Demand
b)
Interdependance
15.
The reliance of one country on the resources, goods, or services of another country is called
a)
Interdependance
b)
Capitalism
16.
An economic system based on the private ownership of businesses and the products made and sold is called a _____________ economy.
a)
Market
b)
Traditional
17.
The interaction between the various countries of the world is called
a)
Globalization
b)
Primary
18.
In which economic sector are raw materials harvested?
a)
Market
b)
Primary
19.
An economic system in which the government owns, controls, and regulates all aspects of production, trade, and income generated by the most valuable resources is called a _____________ economy.
a)
Traditional
b)
Command
Reset
