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Q: 300_______________ is how little of something is available.
It forces us to make choices, like how much of something to buy or
how much money to spend on something. .
Gross Domestic Product (GDP)A: 200
____________ is determined by taking the total value of all
goods and services produced by a country in a single year.
ANSWER
Copyright Ammu Nair
CapitalThe box for Entrepreneur is at the top of the diagram
because it shows that the entrepreneur is First in the alphabet
compared to the other words.Dependent on other people to make the
business successful.Most important in organizing all other
resources for a successful business.Interested in making sure that
the people in the business are well trained for the job.Q:200.
A tax placed by the government on imported goods to help raise
revenues.15A: 300SCARCITY8Q: 400What is the main reason for tariffs
and quotas?
Q: 500Fill in the blank:A/an ___________ is created as a result
of unfavorable political or economic circumstances between nations.
The goal is to isolate the country and create difficulties for its
government.Q:500It is all about how much of something you have, and
how much of something people want. Put the two together, and you
have ______________________.11Q: 100Identify the Economic
System
There is little technology or modernization.There is always a
sense of community.23Q: 200Since the collapse of the Soviet Union
in the early 1990s, Russia has attempted to build an economic
system based on
a command systemthe ideas of Lenin the market systemcustoms and
beliefs.Q: 300True of False?
All economies have some level of government control.Q: 400Based
on the information presented on the continuum, describe the economy
of Germany.
Germany Q:100They risk their own resources in business ventures.
They also organize the other three factors of production.
Q:100 Free trade refers to the removal of barriers to
international trade. What are the three barriers to trade?
Q:100Give one example of a way a country or business may invest
in human capital.Q: 100DOUBLE JEOPARDY!
Q: 200Identify the factor of production:
Resources made and used by people and kept to use in producing
and distributing goods and services.Q: 200
Countries where training and education are more easily available
often have _____________.
unhappy workers who demand more payhigher production levels of
goods and services, therefore higher gross domestic product lower
production levels of goods and services, therefore higher gross
domestic product.A higher population rate
45Q: 200A line with two points going from one extreme to the
other (example: market and command economy), and any point in the
middle is a mix of the two extremes.Q: 300Identify the factor of
production:All businesses need physical and mental skills such as
stacking shelves in a supermarket, or calculating the final
accounts of a company.
Q: 300
Which generalization can be drawn from this chart?The GDP has no
relationship to education. There is a strong relationship between
education and GDP. There is not enough information to draw a
conclusion. Nations with a high GDP usually have a low
population.Q: 400What are the four factors of production?Q: 500
DOUBLE JEOPARDY!
Q: 300Countries in North America and South America have
resources and materials which allow them to produce a certain set
of goods that they specialize in. What happens as a result of this
specialization?
Their economies are extremely weak because they do not have
enough goods.
Countries with more resources do not want to trade with other
countries.
Specialization in producing a set of goods encourages trade
between countries. Q: 400
Based on the information presented in the chart, which two
countries most likely have the least investment in human capital
and capital resources?Q: 400The woman in the picture most likely
represents a/an ____________ economic system.
Picture credit
http://www.glogster.com/madster12/traditional-economy/g-6l86ujdhaeb7o6ehbugvga059Q:
500If a country does not invest in its human capital, how can it
affect the countrys gross domestic product (GDP)? Q: 500Which
statement describes the economies of the United Kingdom , Germany,
and Russia?All three countries have strong command characteristics
with some aspects of market United Kingdom has a pure market
economy, while Germany and Russia are mostly command The economies
of all three countries are based on individual and government
decisions.the GDP per capita in all three countries is the same and
so is the standard of living A: 500DA central authority determined
the type and quantity of goods to be produced.A:100EntrepreneursA:
200Capital ResourcesA: 300Human Capital38A: 400EntrepreneurNatural
ResourcesCapital ResourcesHuman CapitalA: 100Answers may
varyBuilding new schoolsProviding better health care.
A: 200Bhigher production levels of goods and services, therefore
higher gross domestic product.A: 300B. There is a strong
relationship between education and GDP.
A: 400Myanmar and Zaire.
A: 500Answers may vary
GDP may go down because poorly trained workers will not be able
to do their jobs as well. Therefore the workers will be less
productive.A: 200.A ContinuumA: 300C Specialization in producing a
set of goods encourages trade between countries. For example the
United States specializes in producing cars, computers, and other
machinery that is sold in other countries, such as Mexico and
Canada. In turn, the United States trades with Canada and Mexico to
get oil.A: 400Traditional
A: 500Which statement describes the economies of the United
Kingdom , Germany, and Russia?All three countries have strong
command characteristics with some aspects of market United Kingdom
has a pure market economy, while Germany and Russia are mostly
command The economies of all three countries are based on
individual and government decisions.the GDP per capita in all three
countries is the same and so is the standard of living
62CountryGDP/CapitaHigh School Enrollment
Country ACountry BCountry CCountry
D16,2001,0905,34037093%61%93%11%
CountryGDP/CapitaHigh School Enrollment
Country ACountry BCountry CCountry
D16,2001,0905,34037093%61%93%11%
