Unit 7 Review Quiz!

Question 1

The destruction or loss of forest area...

Accepted Answer

Deforestation

Question 2

A ban placed on imported goods...

Accepted Answer

None of the above

Question 3

When a person, a company, or a country focuses on making goods very well and quickly is...

Accepted Answer

Specialization

Question 4

Tariff...

Accepted Answer

A tax placed on goods that are imported into a country

Question 5

What factor decides what job you would have in a traditional economy?...

Accepted Answer

The jobs your parents and, or ancestors had

Question 6

What are some examples of capital goods?...

Accepted Answer

All of the above...

Question 7

What are the four factors of economic growth?...

Accepted Answer

All of the Above

Question 8

Human Capital...

Accepted Answer

Investing in your workers

Question 9

Inflation...

Accepted Answer

The rise in prices that occur when currency loses it's value

Question 10

Smog...

Accepted Answer

A mixture of smoke, chemicals, and fog

Question 11

What are the main sources of air pollution in Mexico today?...

Accepted Answer

All of the above...

Question 12

Which answer choice is NOT a natural resource?...

Accepted Answer

Cars

Question 13

What is a negative result of oil production in Venezuela?...

Accepted Answer

The coast of the Caribbean sea has become polluted

Question 14

A limit on the amount of goods that can enter a country...

Accepted Answer

Quota

Question 15

How do you rate this fan-tabulous Quiz!?...

Accepted Answer

Terrible... The worst thing I've ever seen since moldy bread, Fan-tabulous!, Thebomb.com

Question 16

Agreement signed between Canada, the US, and Mexico which created the largest free-trade zone

Accepted Answer

NAFTA(North American Free Trade Agreement)

Question 17

Literacy Rate...

Accepted Answer

High Literacy Rate = Good country develpoment, The percentage of people who can read and write in a country

Question 18

What role does geography play in Mexico City's air pollution problem?...

Accepted Answer

It lies in the bowl shaped crater of an extinct volcano

Question 19

What is the purpose of NAFTA?...

Accepted Answer

To increase trade by creating large, free-trade zones

Question 20

Capital Goods...

Accepted Answer

All of the above

Question 21

Why might the government not want to stop oil production even though it causes pollution?...

Accepted Answer

Venezuela gets 1/2 of it's money from the oil business

Question 22

What is an advantage of specialization?...

Accepted Answer

Answers 2 & 3

Question 23

What are the four factors that influence economic growth?...

Accepted Answer

Answer 1 & 2

Question 24

The process when a country moves from relying on agriculture to relying more on industry...

Accepted Answer

Industrialization

Question 25

True or False? A person who takes a risk and starts a business isn't an Entrepreneur...

Accepted Answer

False

Question 26

What is the definition of a market economy?...

Accepted Answer

Economy in which consumers help determine what is produced

Question 27

What type of activities are associated with a traditional economy?...

Accepted Answer

Both

Question 28

What is a mixed economy?...

Accepted Answer

A mixture of a command and market economy

Question 29

Why do people exchange currency?...

Accepted Answer

Not all countries use the same currency

Question 30

How does literacy rate affect a country's GDP?...

Accepted Answer

The higher the literacy rate = The higher the GDP

Question 31

What is the problem with a market economy?...

Accepted Answer

Prices for goods can get high very quickly if demand goes up

Question 32

What is the problem with depending on oil exports for a country's income?...

Accepted Answer

If the price of oil goes down= money goes down

Question 33

How is the Mexican government trying to reduce the pollution in Mexico City?...

Accepted Answer

All of the above...

Question 34

Foreign-owned factories located along Mexico's northern border with the United States is...

Accepted Answer

Maquiladoras

Question 35

What is the problem with deforestation?...

Accepted Answer

Increase Global Warming(It's a real thing people!), Loss of animal habitat, Less forest to produce goods that humans need to survive

Question 36

GDP...

Accepted Answer

Gross Domestic Product, Value of all goods and services made in a country in a year

Question 37

What is currency?...

Accepted Answer

Money Money Money Money Money Money Money Money Money Money, The money people use in a country

Question 38

What is an example of investing in human capital?...

Accepted Answer

Company car, pay raise, health insurance, training, etc.

Question 39

What is the definition of a command economy?...

Accepted Answer

Government owns the industries and makes economic decisions

Unit 7 Review Quiz!

Questions 39

Unit 7 Review Quiz!

Questions 39