WorksheetsHow an Economy Grows, Chap 7 & 8 vocab and concepts
Total questions: 20
Worksheet time: 10mins
What does infrastructure mean?
These include space, thoughts, spirits, and ghosts
These include robots, rocket ships, and AI
These include farms, schools, military, and politicians
These include roads, bridges, clean water, sewage systems, airports, the internet, etc.
What is a drought?
To have too many people in a limited area. This causes people to fight over these limited resources.
Not to have enough water. Such a lack of water renders the land dead of plants and animals.
To have too much water. This will cause homes and farms to be lost.
What is a calamity?
An economic decision
A big disaster
A kind of busy activity
A reason to study hard
What does the phrase fertile mind mean?
These are animals that have a high population.
A fertile mind is land that is full of plants and animals
A fertile mind is a mind that lacks good ideas.
A fertile mind is a mind that is full of good ideas.
What is a reservoir?
A reservoir lets out excess water so that there are no floods.
A reservoir is used to collect and store water.
A banking system that collects savings.
A monetary system built on debt.
What is an example of harnessing something?
We harness the power of the sun, water, and wind to produce nothing
We harness the power of the sun, water, and wind to produce electricity.
We harness the power of the sun, water, and wind to produce happiness.
What does the phrase living standards mean?
How well people are living in terms of stock values of the SNP 500.
How well people are living in terms of intelligence and ethics.
How well people are living in terms of access to goods and services.
What kinds of projects might hinder growth?
All projects that the government supports hinder growth.
All projects that are providing something that is not actually needed.
All projects that are providing something that is actually needed.
All projects that the government doesn't support hinder growth.
What does reputation mean?
Reputation is a measure of what others think of a person.
Reputation is something that is only given to great people or countries.
Reputation is something that can be bought and sold for a considerable price.
What is it when the government stimulates growth?
When the government spends money on things like infrastructure to try and start economic activity
When the government stops spending money and increases taxes in order to make people poor.
When people must give the government money in order to make the government grow wealthy.
What does erroneously mean?
falsely or incorrect
deceit or lies
Truth and correctness
To take other's money
What is an example of misallocation of resources?
All cryptocurrency because they are all worth absolutely nothing.
Building houses for the poor.
Going into a conflict with another country unnecessarily.
Free education for all citizens.
Why do people form a state?
States are usually formed because the people of the area want protection from outside parties (such as other countries, pirates, raiders, etc)
States are usually formed because people want to be taxed. It is common knowledge that all people enjoy government control and taxation.
Starts are usually formed because people like to give their freedom and wealth to more powerful people.
What does the term mutual defense apparatus mean?
A developed, modern economy (industrialized)
A good education system (public schooling)
A system of protection (military etc)
What does plunderer mean?
A person who gives more than they take.
Someone who can manage an economy.
Some who teachers others how to run their economy.
Someone who goes to another place to destroy and steal.
What is executive authority?
Executive authority is the power of the judiciary.
Executive authority is the power of the senate.
Executive authority is the power of the presidency.
What does the word commerce mean?
politeness
trade
power
capital
What does the word expenditures mean?
Goods and services
Money that is saved.
The money that is spent on goods and services.
excellent politicians
Why does the US constitution try to segment power in the government?
To try and ensure that the government has no power and only private industry has power.
To try and prevent a possible centralization of power and possible abuse of that power.
To try and ensure that the government has plenty of power so that it can manage a strong economy and nation.
Why does the author believe that the state should not provide funds for failing companies?
Because citizens will lose their freedom as they will become too dependent on the state.
Because citizens will gain too much freedom.
Because citizens will never listen to the government if the government helps them too much.
