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Unit 7 FRQ Study Guide

Total questions: 83

Worksheet time: 1hrs 10mins

Name
Class
Date
1.

A country's ability to produce one product much more efficiently than it can produce other products within its economy

(a)  

2.

The actual or potential relationship between two places, usually referring to economic interactions

(a)  

3.

Fill in the blank: The U.S. and China have good (a)   in the trade of agricultural products

4.

A firm's ability to outperform other transnational corporations (TNC) in its industries; or countries over other countries

(a)  

5.

Due to lower labor costs compared to other countries a country is able to reduce the cost of production for basic good (low-cost, low-tech goods, low skill needed)

(a)  

6.

A country with a large less skilled labor force is not as effective at producing specialized goods (high-tech goods, high-cost goods, high-skill needed) due to lower efficiency in production practices compared to other countries with a larger or even smaller highly skilled labor force

(a)  

7.

Cost advantages due to a larger scale of operation

(a)  

8.

The larger a business, the greater competitive advantage it has as it is able to produce more with greater cost savings

(a)  

9.

External factors such as access to specialized labor and reduced taxes can lower production costs and help companies attain economies of scale

(a)  

10.

Tax/duty on goods, especially imports/exports

(a)  

11.

Government-imposed trade restriction that limits the number or monetary value of goods that a country can import/export

(a)  

12.

International trade left to its natural course without tariffs, quotas, or other restrictions

(a)  

13.

International political body that nation-states establish in cooperation with their neighbors for mutual political, economic, military and/or cultural gain

(a)  

14.

A multi-country agreement that reduces or eliminates taxes to promote the free flow of goods and services across international borders

(a)  

15.

Firms that do business in more than one country

(a)  

16.

True or False this is an advantage of a Supranational Organizations and Trading Blocs: Can help increase economies of scale because the country is producing more goods to sell to the trading bloc members (higher GDP over time)

a)

True

b)

False

17.

True or False this is this an advantage of a Supranational Organizations and Trading Blocs: Regional trading blocs also have better access to transportation networks and more power to negotiate taxes

a)

True

b)

False

18.

True or False this is an advantage of a Supranational Organizations and Trading Blocs: Increased political and military strength in the face of threats external to the organization

a)

True

b)

False

19.

True or False this is a disadvantage of a Supranational Organizations and Trading Blocs: Can improve the standard of living for citizens of a member country due to a large, rapidly growing economy = if GDP per capita increases so will household income, gov. has more money to spend on things like education, health care, infrastructure, etc.

a)

True

b)

False

20.

True or False this is a disadvantage of a Supranational Organizations and Trading Blocs: Food security among member states reduces hunger and incidences of famine that can lead to political instability

a)

True

b)

False

21.

True or False this is a disadvantage of a Supranational Organizations and Trading Blocs: Supranational organizations represent their members on the world stage and act in the political interests of their members

a)

True

b)

False

22.

True or False this is a disadvantage of a Supranational Organizations and Trading Blocs: A financial crisis in one member country can spill over to another member state creating a political crisis

a)

True

b)

False

23.

True or False this is an advantage of a Supranational Organizations and Trading Blocs: As member countries appear to lose sovereignty, nationalist and separatist movements and parties that reject supranationalism may become an issue

a)

True

b)

False

24.

Disparaging reference to economical and political policies by which MDCs are seen to retain or extend influences over the economies of LDCs

(a)  

25.

Where developing countries are at mercy of core countries for loans and investment - core nations need their raw materials and cheaper labor

(a)  

26.

Argues that countries in the global periphery are underdeveloped as a consequence of their financially dependent relationships with countries in the global core

(a)  

27.

May be effective in explaining why economic development does not occur at the same pace in all countries

(a)  

28.

A prolonged period of economic recession marked by a significant decline in income and employment

(a)  

29.

Is a period of decline in total output, income, employment and trade, usually lasting six months to a year and marked by widespread contractions in many sectors of the economy

(a)  

30.

Is a situation in which a country is unable yo pay back its government debt; a country can enter into a debt crisis when the tax revenues of its government are less than its expenditures for a prolonged period

(a)  

31.

Name a country that is a member International Monetary Fund

(a)  

32.

Today its purpose is to prevent crises in the international monetary system through various means but some include loans, central bank operations, monitoring of economic policies, etc.

(a)  

33.

Came into existence in 1945 with the initial goal of establishing exchange rates after WWII with each member country depositing currency into a reserve fund - used as loan money or to help with temporary supple and demand issues of a currency

(a)  

34.

An official ban on trade with a specific country or of a specific good

(a)  

35.

Provision of small loans and other financial services to individuals and small businesses in developing countries

(a)  

36.

The Grameen Bank - based in Bangladesh specialized in making loans to woman is known as...

(a)  

37.

2009 period of economic uncertainty in Euro Zone triggered by high levels of public debt - mostly in the countries that were grouped under the acronym "PIIGS" (Portugal, Ireland, Italy, Greece, and Spain)

(a)  

38.

What type of country is the US classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

39.

What type of country is Japan classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

40.

What type of country is Australia classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

41.

What type of country is France classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

42.

What type of country is Argentina classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

43.

What type of country is China classified in?

a)

Core

b)

Periphery

c)

Semi-Periphery

44.

What type of country is Russia classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

45.

What type of country is South Africa classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

46.

What type of country is Peru classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

47.

What type of country is Libya classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

48.

What type of country is Iran classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

49.

What type of country is Haiti classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

50.

What type of country is Kenya classified in?

a)

Core

b)

Semi-Periphery

c)

Periphery

51.

All of the following help cities develop and grow except...

a)

Waterways

b)

Railroads

c)

Airports

d)

Trade Routes

e)

Bus Stops

52.

People want to raise families outside of denser city areas; housing is cheaper in (a)   , less crime, more open space, etc.

53.

True or False: Mass urbanization can lead to overcrowding or a lack of housing (slums develop, sewage/trash problems, not enough resources, etc.)

a)

True

b)

False

54.

This allows you to order goods online from anywhere in the world

(a)  

55.

True or False: Cities offer worse opportunities in most parts of the world

a)

True

b)

False

56.

There are more services, more jobs available, better education etc. in...

(a)  

57.

List an activity or job that is in the Primary economic sector

(a)  

58.

This sector are activities and jobs that deal with the extraction of natural resources from the Earth

(a)  

59.

What is the main focus of the Secondary Economic Sector?

(a)  

60.

All of the following are examples of the secondary economic sector except...

a)

Processing of raw materials

b)

Fabrication of components

c)

Assembly of finished goods

d)

Service industries

e)

Collecting wood

61.

All of the following are services in the Tertiary economic sector except...

a)

Transportation

b)

Wholesaling

c)

Retailing of finished goods to consumers

d)

Fisheries

e)

Finance

62.

What service in the tertiary economic sector is also considered int eh quinary sector?

(a)  

63.

What service is in the tertiary economic sector but is also considered in the quaternary?

(a)  

64.

This sector is for business services

(a)  

65.

Name a service in the Quaternary sector.

(a)  

66.

This sector has consumer services

(a)  

67.

Name a service in the quinary economic sector

(a)  

68.

Wealthy, industrialized countries that other less-developed countries depend on is called a...

(a)  

69.

A industrializing, mostly capitalist countries which are positioned between the ____ and ____ countries are called...

(a)  

70.

Those that are less developed than the other type(s) of countries. These countries usually receive a disproportionately small share of global wealth.

(a)  

71.

Fill in the blank: Waterways, railroads, airports etc. all can cause a cities downtown population to ____

a)

Grow

b)

Shrink

c)

Migrate

d)

Gentrify

72.

Fill in the blank: ____ _____ let people work from home instead of having to live in businesses' headquarter city

(a)  

73.

Fill in the blank: When countries begin to (a)   , people migrate from rural and suburban to urban areas for better jobs, schools, etc.

74.

Fill in the blank: The more women in the workforce the (a)   the overall TFR

75.

Fill in the blank: By women having jobs it increases their wealth which can help them provide better nutrition and (a)   child mortality rates

76.

True or False: Even when there are more women in the workforce, they often have equality in wages or employment opportunities

a)

True

b)

False

77.

Fill in the blank: Increase in economic growth can (a)   the division of women's stereotypical homelife and merge more into the workforce

78.

Fill in the blank: (a)   childcare and maternity benefits are often in more developed nations with strong economies

79.

Fill in the blank: Women as a part of the workforce reduce (a)   rates which is a role outside of being a mother or housewife

80.

Women in developing countries would most likely be involved in what type of farming

(a)  

81.

Fill in the blank: During the Green Revolution women's jobs were often replaced with new (a)  

82.

 

Name a factor that would affect women's economic roles?

(a)  

83.

True or False: Women spend more hours working per day than men do in developed AND developing countries

a)

True

b)

False