Literacy Rates are…

The percentage of people who are literate (able to read and write)

A limit placed to lower the amount of things that are sent to a country.

What is Standard of Living?

How much money you make and how well you live

What is a mixed economy

an economic system combining private and public enterprise.

oil producing countries that control price/supply of oil

What are the factors of production?

Land, Capital, Labor, & Natural Resources

Which of these are Included in GDP?

A Car from a American Dealership In America.

Calculated by the total population

what is a pure market economy?

it is also known as a free market

What is a mixed economy?

Combines elements of the command and market economies

Organization of Petroleum Exporting Countries

The skills, knowledge, and experience possessed by and individual

Command Economy Meaning?

one in which a central authority decides what goods will be produced

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SWA Economics Review

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Questions 27

Answers

1
Literacy Rates are…
Social Status
Wealth rates
Government Standing
The percentage of people who are literate (able to read and write)
2
Quota
Things in a country.
A limit placed to lower the amount of things that are sent to a country.
All of the above.
3
What is Standard of Living?
All of the Above
How healthy you are
If you use things that are good for the earth or not
How much money you make and how well you live
4
A market economy is known as
consumerism
socialism
capitalism
communism
5
What is a mixed economy
None of the above
an economy driven by country's individual citizens
an economy driven by country's individual citizens
an economic system combining private and public enterprise.
6
What is OPEC
a group of people that want all the oil for themselves
countries that want to make all the profit
a group of people that talk about oil
oil producing countries that control price/supply of oil
7
What are the factors of production?
Capital, Land, Checking, Buildings
Land, Labor, Capital, Research
Land, Capital, Business, Research Resources
Land, Capital, Labor, & Natural Resources
8
Tariff are.....
Taxes on imported goods
Taxes on all goods
Taxes on exported goods
9
An advantage of a mixed market economy is that..
Lots of monopolies
Limited monopolies
Government is a monopoly
10
Embargo is...
nothing.
a tax on imported goods.
a limit on the amount of goods imported.
government forbids trade.
11
Which of these are Included in GDP?
A car radio for a car that is going to be bought.
A Car from a American Dealership In America.
A car bought From a company that isn't American.
Social security that people pay throughout the year.
12
GDP Per Capita
Calculated by the total population
Calculated by the amount of labor force
Calculated by the amount of Unemployed
Calculated by the Total Commerce
13
What do Saudi Arabia, Israel, and Turkey's economic systems have in common?
They are mixed
They are traditional
They are market
They are command
14
What are disadvantages of a Traditional Economy?
Nobody participates
People have to work
It discourages new ideas
People can't eat
15
What is Saudi Arabia's largest export?
Cars
Oil
Clothing
Guns
16
what is a pure market economy?
Empty choice
the government has complete control
it is also known as a free market
both the government and individuals have control
17
What is a mixed economy?
To dispose of things of value
Combines elements of the command and market economies
Making an economic decision independently
The private ownership of economic
18
Which would be a likely result of a country investing in human capital?
Workers would have less training and skills.
The GDP would likely decrease.
Investing in human capital would not help the economy.
The GDP would likely increase.
19
GDP Stands For
Gross Domestic Produce
Gross Domestic Product
Greatest Domestic Product
Greatest Domestic Produce
20
What is the OPEC?
Organic Power Experiment Cooperation
Organization of Poverty Exploration Collaboration
Organization of Petroleum Exporting Countries
Organization of Peaceful Economic Collaboration
21
Human capital is
The skills, knowledge, and experience possessed by and individual
The knowledge, skills, and land possessed by an individual
The demand, knowledge, and skills possessed by an individual
The skills, knowledge and money possessed by an individual
22
Command Economy Meaning?
none of the above
one in which someones central authority
one in which a central authority decides what goods will be produced
one in which someones central authoirty to an item
23
Identify the nation-state with the lowest GDP.
Lithuania
Azerbaijan
United States
Kazakhstan
24
What is a traditional economy
decisions about what to produce,how,and for whom to be produced for
based on traditional customs and beliefs of the society
both blue and red
needs and wants
25
Cons of command economy?
not allow to create
mobilisation
not satisfying the development
innovation is fine
26
What is a benefit of Trade Barriers?
Protecting Employment
All Of the Above
Protecting Consumers
National Secericty
27
90% of Saudi Arabia Export is oil. This shows that Saudi Arabia's economy has a high level of
entrepreneurship
investment in human capital.
specialization
investment in capital goods

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