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WorksheetsSWA Econ Pretest & Trivia
Total questions: 88
Worksheet time: 2hrs 37mins
This is when a country specifically gets good at one thing
Uniqueness
Capital
Human Capital
Specialization
Which economic system would be most likely to 'privatize' something?
Market
Command
Which trade barrier would be effective if a neighboring country started selling products for cheaper than you?
Quota
Tariff
Embargo
Freedoms for people
Government controlled
Central Planning
Communism
Individual Choice
Supply and Demand
Match the following
Tariff
Tax on Imports
Quota
Limit
Embargo
Stops Trade
The standard of living goes up when countries invest in...
nautural resources
capital
currency
tariffs
Why would a country invest in education for their citizens?
To increase skilled labor (human capital)
To decrease capital
To increase immigration
To decrease government involvement
What goes up when your standard of living goes up?
Human Capital
GDP
Literacy Rate
All of these
Why would a country require more years of school?
To increase literacy
To increase capital
To decrease literacy
To decrease capital
What is one popular way the Traditional economies trade goods?
Bartering
Paying for the goods
Stealing
Taking what the need without asking
What is the formal name of OPEC?
Oklahoma People Eat Chicken
Organization of Petroleum Exporting Countries
Organization of Petroleum Exiting the Country
Oil People Expecting Country
What does gross domestic product measure?
How to measure a country
How much a person makes at their job
The dollar value of all goods and services a country produces in a year
The measurement of a country's size
GDP per capita is calculated by ____________________________.
The number of people in the county divided by the size of the country
dividing the Gross Domestic Product by the population
multiply the number of people by the number of jobs
add up the number of people that are have jobs
The four factors of production are natural resources, human capital, Entrepreneurship, and __________________.
Income tax
Human taxes
capital goods
product goods
The three kinds of economies are market, traditional, and_______________.
free
media
presidential
command
What does quota, the trade barrier, do?
limits the amount that can be imported
limits the amount that a country can make of a certain product
puts a tax on imported items
taxes products that are exported
Which item is a natural resource?
pencil
water
electricity
soda
This is the number of people who can read and write.
literacy ability
GDP
literacy rate
reading ability
What does Specialization mean?
a country makes a lot of products
a country exports and imports a lot of natural resources
when a country produces a product at the lowest possible cost and with the most efficiency
when a country makes too much of a product and sells it at a cheaper price
Who makes the majority if not all of the decisions in a command economy?
the government
the people
only the men
only the men over 21 years old
This person takes a risk by starting their own business.
politician
salesman
entrepreneur
employee
This is the name of the group that regulates the price and production of oil?
NATO
CATO
OPEC
OPP
The following is a TRUE statement about ISRAEL. "It's Coastal Region has High Tech Companies"...
What else is TRUE about ISRAEL?
A. Most of its land is owned by the government
Most of its land is free to all citizens
In Saudi Arabia, it's state run oil company owns, operates and develops all the OIL and NATURAL GAS Reserves in the country. What else is true about SAUDI ARABIA?
Oil Accounts for only 10% of its total exports.
Oil accounts for 90% of its total exports.
Many countries in Southwest Asia are trying to CHANGE their MIXED economies further from COMMAND and NEARER to MARKET ECONOMIES.
Which action are these countries taking to make this shift occur?
Increase Business Taxes
Privatize More Businesses and Industries
One of Southwest Asia's most Important Resources is
Oil
Straw
The distribution of OIL in Southwest Asia is______________________.
Even
Uneven
The distribution of OIL in the Middle East has made some countries very___________________.
poor
rich/wealthy
Which country is being described by the statements in the box?
Israel
Saudi Arabia
Turkey
Which country is being described by the statements in the box?
Israel
Saudi Arabia
Turkey
Which country is being described by the statements in the box?
Israel
Saudi Arabia
Turkey
Which statement accurately describes Israel, Saudi Arabia, and Turkey's economic systems?
Market
Command
A mix of Market and Command
Traditional
In a traditional economy, how are economic decisions made?
Government leaders
Consumers
A mix of government leaders and consumers
Customs and traditions
Use the passage. What is the MOST important question for the leaders to answer first?
What goods can be produced most efficiently?
What goods are most desired in other countries?
What goods are least desired by the country’s population?
What goods can be produced without increasing competition?
Use the passage. What is this an example of?
entrepreneurship
specialization
quotas
tariffs
Regional conflicts in Southwest Asia, where many Organization of Petroleum Exporting Countries members are located, generally result in which of the following?
a decrease in oil prices
an increase in oil prices
an increase in demand for oil
a decrease in the demand for oil
Use the table. Based on the table, what conclusion can be made?
Turkey most likely has a low gross domestic product.
Turkey most likely has a high rate of unemployment.
Turkey most likely has a low level of export activity.
Turkey most likely has a high standard of living.
Use the table. Based on the table, which of the following is MOST LIKELY true?
Iraq’s economy is mainly agricultural.
Afghanistan’s economy is mainly industrial.
Turkey has a higher unemployment rate than Iraq.
Saudi Arabia has a higher standard of living than Afghanistan.
Which is a result of a country investing in human capital?
GDP will stay the same because human capital does not affect it.
GDP will increase because educated workers will be more productive.
GDP will decrease because the cost of investing in human capital is very high.
GDP will no longer be essential because citizens will have higher education.
What incentive might a national government have for improving education and literacy in their country?
Educated populations do not need to trade with other countries.
Educated populations are less likely to distrust the government.
Educated populations have a higher standard of living than uneducated populations.
Educated populations produce more agricultural goods than uneducated populations.
Which of the following situations involves an investment in capital goods?
A restaurant starts opening earlier so it can serve lunch.
A company pays its employees’ graduate school tuition.
A farmer buys a new tractor to replace his old one.
A government starts providing kindergarten.
Use the table. Based on the table, what conclusion can be made?
Iran spends more on education than Israel.
Syria has more natural resources than Iraq.
Israeli businesses have more modern capital goods than Iraq.
Syrian citizens attend school more often than Iranian citizens.
What would be a reasonable conclusion to draw about the correlation between standard of living and a country with an abundance of oil?
Oil production does not impact the standard of living in a country.
Oil has created an unlimited amount of jobs for the people decreasing the unemployment rate.
The standard of living has been improved due to better education, healthcare, roads, and technology.
The standard of living has not been improved because oil has not raised the GDP per capita in those countries.
Excluding interest earned, how much cash does each team begin The Stock Market Game with?
$10,000
$50,000
$100,000
$200,000
Stocks are items found in the storeroom of a grocery store
True
False
Only rich people invest in the stock market
True
False
Most stocks on the stock market are sold by the United States Government
True
False
If the stock market goes up 30% one year, it will fall by 30% in the next year
True
False
Any stock that goes up in prices must eventually come back down
True
False
Bears, Bulls, and Pigs are found in the stock market
True
False
Stock prices are set by the Securities and Exchange Commission, a regulatory agency of the U.S. government
True
False
Stock Markets are open on business days around the clock, around the world
True
False
Sometimes companies buy their own stocks on the stock market
True
False
It is hard to buy a good stock today because all the good ones have already been purchased.
True
False
Buying stocks is a sure way to make money
True
False
Corporations sell new issues of stock on the New York Stock Exchange
True
False
"Insider" stock trading means that trading stocks takes place inside a building
True
False
People can buy stocks on the Internet
True
False
When the stock market goes up, it causes the economy to grow.
True
False
What school did Harry Potter, Ron Weasley, and Hermione Granger go to?
Ilvermorny
Diagon Alley
Hogwarts
Durmstrang Institute
What country is home to kangaroos?
Argentina
Australia
Madagascar
Brazil
Saint Patrick is the patron saint of which country?
Germany
France
Norway
Ireland
What Italian city is famous for its leaning tower?
Pizza
Plaza
Pasta
Pisa
What is the name of the boy who visits Will Wonka's chocolate factory?
Chuckie Buckie
Charlie Bucket
Charlie Brown
Chulie Barcket
Which planet in our solar system is known for its ring?
Jupiter
Mars
Saturn
Earth
Which Marvel movie comes first in the timeline?
Iron Man
Spider Man
Captain America: The First Avenger
Thor
In what year did the RMS Titanic sink?
1926
1945
1912
1918
Which one is NOT a dwarf from Snow White?
Bashful
Wheezy
Sneezy
Dopey
Where did the Olympics originate?
Greece
Italy
Egypt
Germany
Who was the first person on the moon?
Lance Armstrong
Neil Armstrong
Buzz Aldrin
Michael Collins
How many squares are on a chessboard?
56
59
64
81
How many eyes does an earthworm have?
None
One
Two
Eight
Which planet is considered Earth's "twin" because of their size and what it's made of?
Mercury
Pluto
Venus
Mars
Which Greek god is the "God of the Sea"?
Zeus
Hades
Poseidon
Apollo
The African basenji is also called the barkless dog. What does it do instead of barking?
It hums
It uses sign language
It yodels
It doesn't make a sound
Which U.S. President wrote the Gettysburg Address? He also owned a pet turkey and two pet goats!
George Washington
John Quincy Adams
Ulysses S. Grant
Abraham Lincoln
What was the first rodent to be tamed by humans?
hamsters
rats
squirrels
guinea pigs
If you take good care of a goldfish, how long can it live?
up to a week
6 months
3 years
20 years or more
What is a female cat called?
queen
mare
Catwoman
her majesty
What is inside the fingertips of astronauts' gloves?
magnets
heaters
twinkle lights
screwdrivers
How long does it take the fastest elevator in the world to climb 89 floors?
Fun Fact: It is in the Taipei 101 building in Taiwan.
2 seconds
15 seconds
39 seconds
501 seconds
Where were the world's first flushing toilets?
The United States
Brazil
Australia
The United Kingdom
True or False: Nobody has ever traveled around the world in a hot-air balloon.
True
False
Where was the world's first video game invented?
Japan
The United States
China
Australia
One of SpongeBob's best friends is Sandy. What kind of creature is she?
jellyfish
squirrel
whale
starfish
What is the group name for a gathering of kangaroos?
mob
suitcase
hopper
troop
True or False: There are no active volcanoes in Antarctica.
True
False
