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CGW4U UNIT 3 TEST PART 1 Flashcards | StudBud
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CGW4U UNIT 3 TEST PART 1
What is: Market Economy?
What are: Primary Industries?
CGW4U UNIT 3 TEST PART 1
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1
What are: Primary Industries?
Industries that convert raw materials into finished industrial products
The part of the economy that is knowledge-based such as government research
Industries that harvest or extract raw materials or natural resources
The part of the economy that provides services rather than products
2
What is: Market Economy?
Private corporations control production/distribution of most goods/services
Both private sector & government have control of and a say in the economy
Decisions are made on the basis of customes, beliefs, religions, and habit
An economic system in which the government owns and controls all facets
3
What are: Global Commons?
Resources that will not return, or renew - only after a long period of time
Earth resources: no political boundaries - part of cirulating world system
Machines, money, land, raw materials,etc used to produce goods and services
A resource that is not renewable/nonrenewable - must be used as it occurs
4
What are: Resources?
Machines, money, land, raw materials,etc used to produce goods and services
A resource that is not renewable/nonrenewable - must be used as it occurs
Resources that will not return, or renew - only after a long period of time
Earth resources: no political boundaries - part of cirulating world system
5
Flow Resource Rate
Consumption > Production
Consumption =/= Production
Consumption = Production
Consumption < or = Production
6
Non-Renewable Resource Rate
Consumption =/= Production
Consumption = Production
Consumption > Production
Consumption < or = Production
7
What is: Traditional Economy?
Private corporations control production/distribution of most goods/services
Decisions are made on the basis of customes, beliefs, religions, and habit
Both private sector & government have control of and a say in the economy
An economic system in which the government owns and controls all facets
8
What are: Secondary Industries
Industries that convert raw materials into finished industrial products
The part of the economy that is knowledge-based such as government research
Industries that harvest or extract raw materials or natural resources
The part of the economy that provides services rather than products
9
What are: Tertiary Industries?
Industries that convert raw materials into finished industrial products
The part of the economy that provides services rather than products
The part of the economy that is knowledge-based such as government research
Industries that harvest or extract raw materials or natural resources
10
What is: 'an ideology that encourages people to acquire goods and services in increasing amounts'?
Subsistence
Hunter-Gatherer
Consumerism
Anarchy
11
What are the Four Economic Sectors?
Coercive Economy, Maximized Economy, Metropolitan Economy, Local Economy
KnowledgeBased sector, Manufacturing sector, Primary sector, Servicebased
Command Economy, Market Economy, Mixed Economy, Traditional Economy
Intellectual Sector, Workers Sector, Pauper Sector
12
What are: Renewable Resources?
Resources that will not return, or renew - only after a long period of time
A resource that is not renewable/nonrenewable - must be used as it occurs
Earth resources: no political boundaries - part of cirulating world system
Natural resource: replenished at a rate similar to rate of consumption
13
What kind of Economic System Does Canada Have?
Market
Traditional
Mixed
Command
14
What are: Non-Renewable Resources?
Machines, money, land, raw materials,etc used to produce goods and services
Natural resource: replenished at a rate similar to rate of consumption
Resources that will not return, or renew - only after a long period of time
A resource that is not renewable/nonrenewable - must be used as it occurs
15
What are: Quaternary Industries?
The part of the economy that provides services rather than products
Industries that convert raw materials into finished industrial products
Industries that harvest or extract raw materials or natural resources
The part of the economy that is knowledge-based such as government research
16
What is NOT an example of a resource?
Commodity
Factors of production
Service
Thoughts
17
What is: Command Economy?
Private corporations control production/distribution of most goods/services
Both private sector & government have control of and a say in the economy
An economic system in which the government owns and controls all facets
Decisions are made on the basis of customes, beliefs, religions, and habit
18
What are: Flow Resources?
Machines, money, land, raw materials,etc used to produce goods and services
Natural resource: replenished at a rate similar to rate of consumption
Earth resources: no political boundaries - part of cirulating world system
A resource that is not renewable/nonrenewable - must be used as it occurs
19
What are the Four Economic Systems?
Intellectual Sector, Workers Sector, Pauper Sector
Coercive Economy, Maximized Economy, Metropolitan Economy, Local Economy
KnowledgeBased sector, Manufacturing sector, Primary sector, Servicebased
Command Economy, Market Economy, Mixed Economy, Traditional Economy
20
What is: Mixed Economy?
Decisions are made on the basis of customes, beliefs, religions, and habit
An economic system in which the government owns and controls all facets
Both private sector & government have control of and a say in the economy
Private corporations control production/distribution of most goods/services
21
What is NOT a feature of the Division of Labour?
Dividing production process; different stages/workers have specific tasks
Workers or groups are isolated from the labor of other groups and workers
Labour is shared amongst a community, distributed in equal parts among them
Breakdown of labor; distributing components among different persons/groups
22
What is: 'consumption in which materials are cultivated for local consumption/energy requirements rather than for sale'?
Anarchy
Hunter-Gatherer
Subsistence
Consumerism
23
Renewable Resource Rate
Consumption > Production
Consumption =/= Production
Consumption = Production
Consumption < or = Production
