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WorksheetsGovernment & Economics Review
Total questions: 15
Worksheet time: 8mins
GNP: ___________________ ::GDP ___________________ .
Only goods and services produced within a national boundary, all goods and services produced by a nation
All goods and services produced by a nation, only goods and services produced within a national boundary
Only goods and services used within a boundary, all goods and services produced within a national boundary
all goods and services produced within a national boundary, only goods and services used within a boundary
How is the Australian Aborigine society an example of a traditional economy?
Economic decisions are made by the democratically elected elders of the community.
Economic decisions are made by the Australian government.
Economic decisions are based on customs and beliefs.
Economic decisions are based on the demands of the market.
I. Theocracy
II. Democracy
III. Dictatorship
IV. Monarchy.
Which of the above LEAST resembles the other three in how they exercise authority in the countries they govern?
I
II
III
IV
Complete the analogy with the correct combination of words. Iran : _____________ :: China : ________________.
Theocracy, Dictatorship
Dictatorship, Monarchy
Monarchy, Dictatorship
Democracy, Monarchy
In a command economy, goods that are produced are sent to —
aristocracy
wealthy consumers
impoverished countries
government organizations
In a traditional economy, things are produced based on —
profit amount
household needs
government orders
international needs
Which of the following is an example of an economy where economic decisions are made based on customs and beliefs?
Farms in Great Plains
Industrial Germany
Wall Street USA
Natives of Rainforest
Where in the world would one find more subsistence farming than commercial farming?
developed nations
developing nations
capitalistic economies
agribusiness economies
Where would the MOST commercial industry in the world be located?
developed nations
developing nations
third-world economies
primary economies
Antonio lives in a farming village in Italy. Like his parents, grandparents, and his neighbors, Antonio depends on his farm to make a living. Which level of economic activity best describes the economics of Antonio's village?
Primary
Secondary
Tertiary
Quaternary
Madison, Wisconsin, is located in the Dairy Belt. Read this description of Madison's dairy industry and answer the question that follows.– Cows eat from green pastures.– Cows are milked by machine.– Milk is pasteurized and bottled in a processing plant.– Milk bottles are delivered to stores in cities.– Stores sell the milk to consumers. What is the HIGHEST level of economic development described in the example above?
Primary
Secondary
Tertiary
Quaternary
Which of these BEST describes a command economy?
There is significant surplus with no price controls.
The government decides what and how much to produce.
The law of supply and demand determines the price of goods.
Consumer needs change little from one generation to the next.
Which of these BEST describes a market economy?
Consumer needs change little from one generation to the next.
There is significant surplus with no price controls.
The government decides what and how much to produce.
The law of supply and demand determines the price of goods.
Complete the analogy with the correct combination of words. The United States : _____________ :: England : ________________.
Theocracy, Dictatorship
Dictatorship, Monarchy
Monarchy, Dictatorship
Democracy, Monarchy
The major difference between North and South Korea is which of the following?
Ethnicity
Economics
Diversity
Geography
