Font size
WorksheetsModule 5 Practice Quiz (Geo)
Total questions: 17
Worksheet time: 10mins
Which of these is the main incentive for people to start a business?
Profit
Opportunity Costs
Scarcity
Labor
raw materials needed to produce goods
natural resources
financial capital
capital
labor
human time, effort, skills, and talent needed to produce goods
natural resources
financial capital
capital
labor
money that a business uses to buy the items needed for the business to function
natural resources
financial capital
capital
labor
items such as tools, machines, factories, and office equipment needed for a business to function
natural resources
financial capital
capital
labor
Which of the following scenarios accurately illustrates the concept of economic interdependence?
An entrepreneur decides to open a bakery and produces bread for the neighborhood.
Good rainfall allows a farmer to produce more strawberries and he chooses to expand his business.
Japan lacks iron to make steel, so Japan enters into a trading relationship with Australia and Brazil, who supply Japan with iron ore.
South Africa is rich in diamonds, gold, and mineral resources, so South Africa creates a mining industry that produces much wealth.
A farmer sells milk produced from dairy cows. This is an example of the ________ industry.
agricultural
retail
manufacturing
wholesale
A factory owner uses lumber to make furniture. This is an example of the ________ industry.
agricultural
retail
manufacturing
wholesale
A company buys vegetables from several farmers, then sells them to a grocery store. This is an example of the ________ industry.
agricultural
retail
manufacturing
wholesale
A restaurant sells food to customers. This is an example of the ________ industry.
agricultural
retail
manufacturing
wholesale
Which investment option would fall on the upper right portion of the graph?
savings accounts
stocks
certificates of deposit
When you put your money in a bank, it is like you are...
just storing your money somewhere.
giving the bank a loan.
borrowing money from the bank.
investing in a high-risk stock.
What are the three main functions of a bank? (Select THREE answers)
Customers can store their valuables in a bank
Customers can earn money from a bank
Customers can get advice on stock investment from a bank
Customers can borrow money from a bank
Customers can buy valuables, like jewelry, from a bank
Dollars, pesos, rupees, euros, and yen are all examples of:
currency
stocks
goods
opportunity costs
Which of the following has helped increase globalization? Choose the THREE correct answers.
warfare
airplanes
the internet
communism
telecommunications
Which are arguments FOR increased globalization in our economies? (Choose THREE)
globalization promotes peace through trade
globalization takes jobs from high-paid laborers in developed countries
globalization promotes investment in developing countries
globalization provides a sense of world community
globalization underpays workers in developing countries
Which are arguments AGAINST increased globalization in our economies? (Choose THREE)
globalization promotes peace through trade
globalization takes jobs from high-paid laborers in developed countries
globalization can hurt local cultures
globalization provides a sense of world community
globalization underpays workers in developing countries
