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Unit 1 Review

Total questions: 50

Worksheet time: 39mins

Name
Class
Date
1.

In which economic system does the government answer all three of the big economic questions? (What to produce? How to produce? For whom to produce?)

a)

Command

b)

Socialism

c)

Market

d)

Traditional

2.

Which of the following best explains a mixed economy?

a)

Private ownership of the factors of production and regulation of businesses by government

b)

Market exchanges answer all three of the big economic questions

c)

Family customs and traditions determine what and how to produce a good

d)

Government answers all three of the big economic questions

3.

In a __________________ economy, families, clans, or tribes make economic decisions based on generational customs and beliefs.

a)

Mixed

b)

Market

c)

Traditional

d)

Command

4.

In a market economy, what most strongly affects the price and quality of goods and services?

a)

tariffs

b)

competition as well as supply and demand

c)

trade barriers

d)

government control

5.

Native Americans used to barter for goods. They did not use currency. Economic decisions were based on customs. What economic system would an indigenous group like the Native Americans most likely have?

a)

market economy

b)

free enterprise economy

c)

traditional economy

d)

command economy

6.

Which country is closest to pure command?

a)

North Korea

b)

United States

c)

United Kingdom

d)

Germany

7.
Katia is an accountant in a government run business where she was placed after graduation.
a)
Command
b)
Traditional
c)
Free Market
d)
Mixed
8.
I am a farmer in Africa, and have always traded for my goods.  I have a _____ economy. 
a)
Traditional 
b)
Command 
c)
Market
d)
Mixed
9.

Imports are products which we buy...

a)

In the same country.

b)

From other countries.

c)

Both answers are possible.

10.

Ireland sells lamb to foreign countries. Is Ireland ....

a)

Importing lambs?

b)

Exporting lambs?

c)

Changing lambs?

11.

Tertiary Economic Activities refers to...

a)

Jobs involved in manufacturing

b)

Jobs involved in providing a service

c)

Jobs involved in dealing with natural resources

d)

Jobs involved in dealing with semi finished goods

12.

Fishing is an example of a renewable resource

a)

True

b)

False

13.

Grazing, hunting and gathering are the example of:

a)

Primary Activity

b)

Secondary Activity

c)

Tertiary Activity

d)

Quinary Activity

14.

All manufacturing, processing, and construction jobs lie within this sector:

a)

Primary

b)

Secondary

c)

Tertiary

d)

Quaternary

15.

Activities associated with ___________ sector include retail and wholesale sales, transportation and distribution.

a)

Primary

b)

Secondary

c)

Tertiary

d)

Quaternary

16.

The ____________ sector consists of intellectual activities.

a)

Secondary

b)

Tertiary

c)

Quaternary

d)

Quinary

17.
All of the following make up the human development index EXCEPT
a)
life expectancy
b)
per capita income
c)
education level and literacy rate
d)
gender equality
18.
GDP per capita is highest in
a)
South America
b)
East Asia
c)
North America
d)
Eastern Europe
19.

Pick the correct term to the definition: Total value of goods and services within a country’s borders?

a)

GDP Per capita

b)

Per capita

c)

GDP--Gross domestic product

d)

Literacy rate

20.

Developed countries have...

a)

high literacy rates

b)

short life expectancy

c)

dirt roads

d)

high level of technology

21.

Developing countries have...

a)

easy access to water and sanitation

b)

low birth rate

c)

shorter life expectancy

d)

low income

22.

The number of people who can read and write in a country is called...

a)

life expectancy

b)

education

c)

literacy

d)

gender

23.

Industrialized countries with good economy and advanced technology are...

a)

developing countries

b)

developed countries

24.

Poor, agricultural countries, trying to become more advanced are...

a)

developed countries

b)

developing countries

25.
The business of buying, selling or exchanging goods is _______________
a)
a good idea
b)
made
c)
trade
d)
migrate
26.
When we talk about different nations around the world sharing more goods, ideas, cultures and systems of government, we are talking about ____________________________
a)
neighbors
b)
globalization
c)
realization
d)
sensation
27.

Increased trade gives people more...

a)

debt

b)

goods

c)

services

d)

barriers

28.

This group promotes free trade

a)

OPEC

b)

WTO

c)

United Nations

29.

A cartel of oil producing nations

a)

OPEC

b)

WTO

c)

United Nations

30.

Globalization has increased due to

a)

raised trade barriers

b)

new trade organizations

c)

increased communication

d)

resource depletion

31.

In the upcoming elections in your country, which type of government would allow you to choose representatives to make decisions on your behalf?

a)

Democracy

b)

Monarchy

c)

Theocracy

d)

Dictatorship

32.

What type of government has a leader who has absolute power?

a)

Democracy

b)

Oligarchy

c)

Theocracy

d)

Dictatorship

33.
A queen rules a nation. When she dies, the throne will pass to her daughter. What kind of government does this nation have? 
a)
a monarchy 
b)
a theocracy
c)
a dictatorship
d)
a representative democracy
34.
Some nations in the Middle East have Islam as the state religion. Their citizens must practice this religion. What kind of government do these nations have? 
a)
a monarchy 
b)
a theocracy
c)
a dictatorship
d)
an oligarchy
35.

Example: United States; citizens vote for representatives on local, state and national levels who make laws.

a)

Monarchy

b)

Anarchy

c)

Theocracy

d)

Representative Democracy

36.
What type of government is being described? Fidel Castro held total authority over the citizens of Cuba and punished those who were against him.
a)
Theocracy
b)
Democracy
c)
Dictatorship 
d)
Oligarchy
37.

situation where there is no government -sometimes happens after a civil war

a)

anarchy

b)

theocracy

c)

republic

d)

revolutionary

38.
Name the continent in Yellow?
a)
South America
b)
Europe
c)
Asia
d)
North America
39.
Name the continent in Purple?
a)
Asia
b)
Antarctica
c)
South America
d)
Africa
40.
Name the continent in Green?
a)
Asia
b)
Europe
c)
Australia
d)
South America
41.
Name the continent in Red?
a)
South America
b)
Africa
c)
Europe
d)
Asia
42.
Name the continent in Pink?
a)
Antarctica
b)
North America
c)
Europe
d)
Australia
43.
Name the continent in Orange?
a)
Europe
b)
Asia
c)
Africa
d)
South America
44.
Name the continent in White?
a)
Europe
b)
Asia
c)
Antarctica
d)
South America
45.
Name the ocean labeled 1?
a)
Pacific Ocean
b)
Indian Ocean
c)
Arctic Ocean
d)
Southern Oce
46.
Name the ocean labeled 2?
a)
Indian Ocean
b)
Arctic Ocean
c)
Atlantic Ocean
d)
Southern Ocean
47.
Name the ocean labeled 3?
a)
Southern Ocean
b)
Arctic Ocean
c)
Atlantic Ocean
d)
Pacific Ocean
48.
Name the ocean labeled 4?
a)
Indian Ocean
b)
Southern Ocean
c)
Pacific Ocean
d)
Atlantic Ocean
49.
Name the ocean labeled 5?
a)
Pacific Ocean
b)
Atlantic Ocean
c)
Indian Ocean
d)
Southern Ocean
50.
Which of these continents is closest to Africa (labeled E)?
a)
Antarctica
b)
North America
c)
Europe
d)
Australia

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