WorksheetsChapter 4 Section 5
Total questions: 11
Worksheet time: 7mins
Production and exchange of goods and services among a group of people
Economy
Democracy
GDP
Commercial Business
List the 4 basic types of economic systems (TCMM)
(a)
Goods and services traded without exchange of money
Traditional Economy
Command Economy
Market Economy
Mixed Economy
Production of goods and services determined by central government, usually owns the means of production
Traditional Economy
Command Economy
Market Economy
Mixed Economy
Combo of command and market economy, provide goods and services so that all people will benefit
Traditional Economy
Command Economy
Market Economy
Mixed Economy
Natural resources are placed into 3 basic types:
Renewable, Non-Renewable, Wind
Non-Renewable, Inexhaustible Energy Sources, Non-Existent
Renewable, Non-Renewable, Inexhaustible Energy Sources
Renewable, Replaceable, Reproduced
Fossil fuels like petroleum, coal, natural gas are examples of RENEWABLE RESOURCES.
True
False
Solar, wind, water are examples of INEXHAUSTIBLE ENERGY SOURCES
True
False
The more sophisticated the (a) , the more developed the country.
Total value of goods and services produced by a country over a year or some specified period of time
GNP
GDP
CBD
ABC
Total value of all goods and services produced WITHIN a country in a given time period
GNP
GDP
CBD
ABC
