WorksheetsEconomics 1st Semester Review
Total questions: 33
Worksheet time: 33mins
Market Economic systems are regulated by --
supply and demand
checks & balances
Sonny & Cher
An economy that allows private businesses but the government still has rules and regulations that people have to follow.
Free Market
Command
Mixed
Traditional
A big business that uses mass manufacturing in factories.
Commercial industries
Cottage industries
A business or manufacturing activity carried on in a person's home.
Commercial Industries
Cottage Industries
When you extract raw material from the earth: mining, logging, farming, hunting and gathering, fishing.
Primary economic activity
Secondary economic activity
Tertiary economic activity
Quaternary economic activity
A farm is...
Urban
Rural
Suburban
Subrural
A city is...
Rural
Urban
Suburban
Subrural
When people move from a rural area to an urban area it is called
suburb
farmland
urbanization
city
Which of the following are examples of 'infrastructure'?
computers, televisions, phones
buildings, roads, power supplies
internet, social media, having the most likes on a post
Commercial Industry
Commercial agriculture
When an item is rare, what will the demand be like?
high demand
low demand
not wanted at all
Commercial Agriculture
Growing lots of food to sell.
Growing only enough food for you and your family to survive. Usually found out in the country or in villages.
To move
Travel through the land
The part of the economy that transforms the raw materials into goods for sale: factory workers or people who make things out of raw materials (a weaver would make clothing out of cotton)
Primary economic activity
Secondary economic activity
Tertiary economic activity
Quaternary economic activity
An economic activity generates research and new knowledge in universities and research centers.
Primary economic activity
Secondary economic activity
Tertiary economic activity
Quaternary economic activity
What is an economic system where only the government makes the economic decisions?
traditional economy
free enterprise
mixed economy
command economy
The limited availability of resources is known as...
Scarcity
Voluntary Exchange
Profit
Opportunity Cost
What part of the economic spectrum would you find North Korea?
On the left
On the right
In the middle
It is traditional so it is not on the spectrum
The part of the economy that transforms the raw materials into goods for sale: factory workers or people who make things out of raw materials (a weaver would make clothing out of cotton)
Primary economic activity
Secondary economic activity
Tertiary economic activity
Quaternary economic activity
How much money a country makes in a year (the higher it is, the higher the standard of living will be)
GPA
GDP per captia
GDP
A Developed country has
A high literacy rate
A high birth rate
A high infant morality
A Developed country has
A high birth rate
A high GDP
A high infant morality
Theocracy
A form of government where representatives are elected
a government ruled by a king or queen. Many empires were influenced by this monarchy because the king would be supported by many.
a government in which the people have the power to make political decisions
rules by a religious leader or priest.
The part of the economy that provides services to others. For example, a store keeper, a nurse, a construction worker, a taxi driver- anyone who is providing a service.
Primary economic activity
Secondary economic activity
Tertiary economic activity
Quaternary economic activity
A developing country will have a...
high life expectancy
low life expectancy
What is a Republic?
A form of government where representatives are elected
a government ruled by a king or queen. Many empires were influenced by this monarchy because the king would be supported by many
a government in which the people have the power to make political decisions
rules by a religious leader or priest.
Which of the following most likely caused the change in these photographs?
The preservation of local cottage industries
The expansion of international trade
The adoption of command economy
The extraction of nonrenewable resources from local reserves
Which of the following countries has a command economy?
The United States
North Korea
England
Germany
