What is Mercantilism?

Both of these answers are correct

What is a market economy?

An economy controlled by supply and demand

What does command economy mean?

Controls levels of production, Setting prices on goods

Which of the following is example of Quaternary industries

Education, Medical research, software development

What does the primary sector do?

Extracts or harvests a natural resource or commodity

Which of these statements best describes secondary production?

Concerned with changing raw materials into finished goods.

disadvantage of socialism is that it relies on the cooperative nature

how a society decides on ownership of resources

What is mixed economy?

Economy has a mix of both private and publicly owned businesses

Which is not a characteristic of free enterprise?

Resources controlled by goverment

Which are the three factors affecting the production of goods?

Natural resources, labour and capital

What is considered a Primary Chain of Production

Farming, Fishing, Forestry, and Mining

What is mercantilism?

Getting rich by buying raw goods cheap and turning them into products.

Which of these statements best describes tertiary production?

Concerned with getting the finished good/service to the customer.

When did Communism end?

Never there are still some communst countries in the world.

Where you use other contries for profit and money

Monopoly power. Private ownership of capital enables firms to gain monopoly

What is free enterprise?

Privately owned companies produce the goods people buy

an economic and political system in which is controlled by private owners

Property is owned by the state and citizens work and are paid by skill/need

Mercantilism is___________________?

The practice that says a colony is only there to make the motherland rich.

What are Advantages of a Market-Based Economy?

Variety of goods and services, Freedom to purchase goods and services., Business's have freedom to adjust products

Which is a disadvantage of socialism

Less competition reduced incentive to work, Never truly obtain anything

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Questions 64

Answers

1
What is Mercantilism?
Both of these answers are correct
The more gold you have, the more power you have
Export more than you import
2
The strength of an economy is measured by an indicator
Economic Indicator
Economic Dictatorship
Decreased democracy
Inflation
3
What is a mixed economy?
Market and Command mixed
Another word for Command Economy
Traditional and market mixed
Traditional and Command mixed
4
Same as a free enterprise economy
Hi
Market failure
Supply curve
Market economy
5
What is a market economy?
An economy controlled by the government
An economy controlled by supply and demand
Animals running everything
A totally free economy
6
The key of a good economy is...
Death
Unstable supply and demand
Stable supply and demand
No money
7
What does command economy mean?
Selling items for money
Earns all the money
Controls levels of production
Setting prices on goods
8
Primary sector....
provide raw materials
provide tourism
provide trade
provides services
9
Quaternary people are farmers and oil miners.
True
False
10
Would Taki Cereal represent FREE ENTERPRISE?
True
False
11
Which of the following is example of Quaternary industries
Education
Medical research
software development
Retailing
12
What does the primary sector do?
Producing, manufacturing, manipulation, altering, refining
Extracts or harvests a natural resource or commodity
Takes raw/finished commodities and does something with them
Deals with government affairs
13
What is market economy?
Both government and individuals are in charge
No one is in charge
Individuals are in charge
Government is in charge
14
Which of these statements best describes secondary production?
Concerned with getting the finished good/service to the customer.
Concerned with changing raw materials into finished goods.
15
What is Mercantilism
Gold=Power
Power=Gold
A religion that praises Mercamana
16
cons of socialism
disadvantage of socialism is that it relies on the cooperative nature
Steam is water in the gas phase. This may occur due to evaporation, to
whats with the random questions?
additional binder materials are well established 1, 2, 3 and the use o
17
Economic Systems are
how a society decides on ownership of resources
all run by governments
all run by private companies
18
What type of economy is the US mostly based on?
Market Economy
Planned Economy
Mixed Economy
19
What is mixed economy?
Economy has a mix of both private and publicly owned businesses
None of the above
Economy is based off of privately owned businesses
Economy is based off government economic decision making
20
Quaternary industries.....
often use digital technologies
all of these
require highly qualified & skilled workers
are high tech
21
Which county has a mixed economy?
United States
Canada
The USSR
Cuba
22
Which is not a characteristic of free enterprise?
Resources controlled by goverment
Limited control of what/how to produce
market determines prices
Resources controlled by private individuals
23
Which are the three factors affecting the production of goods?
Production, distribution and consumption
Natural resources, labour and capital
Consumer goods, intermediate goods and durable goods
People, the public sector and companies
24
What is considered a Primary Chain of Production
Making Clothes, Engineering Cars, Building Homes
Farming, Fishing, Forestry, and Mining
25
What is mercantilism?
The chemical they were adding to hats that made people go crazy
Owning all of one resource or industry
Becoming a merchant in the New World
Getting rich by buying raw goods cheap and turning them into products.
26
Which of these statements best describes tertiary production?
Concerned with getting the finished good/service to the customer.
Concerned with methods of promotion such as social media and newspapers.
Involves producing a single product/service to meet a customer's needs.
Consists of those industries providing information services, such as ICT.
27
The Goal of Socialist economic ideology is .....
Economic equality
Keeping the status quo
Allow economic freedom
Creating a rigid class system
28
When did Communism end?
1990
1989
1973
Never there are still some communst countries in the world.
29
What is mercantilism
when you conterfit money then sell it
Where you use other contries for profit and money
When contries go to war
When you plant mulberry trees
30
Which of the positions on the economic spectrum above MOST STRONGLY supports the practices and policies of collectivism?
Position 3
Position 1
Position 4
Position 2
31
What were the 3 gs
Go!d, G!ory, G0d
greatness, gratitude, graciousness
Gold, Glory, God
Good good game
32
Which nation has a developing economy
Chad
Brazil
Australia
China
33
Doctors are a part of the quaternary sector
True
False
34
a free enterprise economy has both:
heavy regulation and economic opportunity
socialism and free trade
capitalism and free markets
free markets and command communism
35
cons of capitalism
Monopoly power. Private ownership of capital enables firms to gain monopoly
However, the Treasury also issued larger denominations.
acidification, coagulation, separating curds and whey, salting, sh
????
36
What is free enterprise?
remember, big brother is watching
People trading goods without using money
THE GOVERNMENT WATCHES OVER WHAT YOU DO
Privately owned companies produce the goods people buy
37
The Quaternary Economic Sector does this…
Sell It!
Gather It!
Make It!
Research It!
38
Capitalism
an economic and political system in which is controlled by private owners
An economic and political system controlled by the state
39
Which of the following activities does not belong to the quaternary sector?
Microelectronics
Space industry
Biotechnology
Baking
40
Using the spectrum, which letter would indicate the economic system of Canada?
B
A
D
C
41
What is traditional economy?
Individuals are in charge
Both government and individuals are in charge
No one is in charge
Government is in charge
42
Communism
A system that contains many democratic ideals.
A community of people who live together.
Property is owned by the state and citizens work and are paid by skill/need
Nazi Germany's main political system.
43
Mercantilism is___________________?
The action of sailing around the world.
The action were you remove something from the catholic church.
The practice that says a colony is only there to make the motherland rich.
The act of eating with the merchants that you buy goods from.
44
What kind of economy does India have?
Market
Command
Mixed
45
Which is NOT an example of a factor of production?
supplies
capital
labour
land
46
Which of these is not an example of secondary production?
Car Manufacturing
Baking
Pharmacist
Construction
47
What is market economy?
Government is in charge
Individuals are in charge
No one is in charge
Both government and individuals are in charge
48
What are Advantages of a Market-Based Economy?
Variety of goods and services
Freedom to purchase goods and services.
Making the purchase of medicine easier
Business's have freedom to adjust products
49
Who makes all of the decisions in a command economy?
The government
The pope
The president
The people
50
On an economic spectrum, this economy has greatest degree of government control.
laissez-faire
communist
socialist
capitalism
51
Which is a disadvantage of socialism
Less competition reduced incentive to work
Businesses are all owned by the government
Goods are needed in order to ensure that everyone is safe
Never truly obtain anything
52
pros of capitalism
Your Individual Rights Are Restricted. The goal of a communist country
The air you breathe is made up of lots of other things besides oxyg
ultrasonically welds the layers together, and stamps the masks with nose
Economic freedom helps political freedom. If governments owns
53
What nations has a command economy?
USA
Cuba
North Korea
Canada
54
The opposite of a market economy is..
An Economy
Mr. Leon
The government
A command economy
55
socialism
orangize socitey with goal of spreading wealth evenly
private ownership of evrthing
everything is free
u work for u place
56
Traditional economy means......
Has elements of a free enterprise and command economy
People trade goods and services without money
Government owns most parts of the economy and decides what’s should be sold
Privately owned businesses that create goods that people buy in markets
57
An economic system that combines elements of all the other basic systems.
Traditional
Command
Market
Mixed
58
The tertiary sector is :
To extract raw materials from the ground
To provide services
To transform raw materials into finished goods
59
What is mercantilism?
created to supply raw materials and markets to the mother country.
created to supply the New World and other parts of the world with slaves.
A triangle.
Native Americans trading with the Jamestown colony.
60
What are the major elements of free enterprise?
seven.
Economic freedom, profit, private property, and competition.
canals.
census.
61
primary sector jobs are...
forestry
trade
services
tansport
62
The Secondary Economic Sector does this…
Research It!
Gather It!
Sell It!
Make It!
63
tertiary sector jobs are......
reservoirs
forestry
industry
healthcare
64
What is a mixed economy?
A command economy but fancier
The government
A market economy with government interference
A market economy but fancier

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