stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
SWA Econ '23 Flashcards | StudBud
Explore
/
SWA Econ '23
SWA Econ '23
98 terms
·
StudBud Administration
·
154 plays
Imported from external platform
Flashcards
98 cards
F
Practice quiz
P
Host live
L
Questions
98
Answers
1
Everyone loves Audri's bad jokes. What will happen to the price of her service? Why?
decrease; low demand
decrease; low supply
increase; competion
increase; high demand
2
In 1990 the U.S. fought ______ to free the small nation of Kuwait
Saudi Arabia
Iran
Iraq
Kuwait
3
A large amount of oil has been found and companies continue to drill. Oil prices will...because
increase; low demand
increase; high demand
decrease; shortage
decrease; surplus
4
What do people from Cambodia call a Turkey?
French Chicken
Turkey
Guinea Fowl
Gobble Bird
5
How has Israel's lack of oil affected that country's economy?
The Israeli economy is built around large-scale farming.
The Israeli economy depends on technology.
Israel has little industry due to their lack of oil.
Israeli businesses use little oil to operate.
6
What is the 2nd largest city in Georgia?
Savannah
Athens
Urmomshouse
Augusta
7
How does a free market economy view property rights?
No citizen has the right to own private property
There are many limitations to owning private property
All property is public
Private property is respected and kept secure
8
an official order to carry out something
Partition
Mandate
Law of Return
Assimilate
9
An embargo is an example of a trade ________________.
Surplus
Deficit
Barrier
Agreement
10
Palestine and Israel disagree over...
religion
control of land
Nicki or Cardi
control of oil
11
How much more money do High School graduates make in their life compared to dropouts?
$250,000
Several
Cowbell
$1,000000000000000000000000000000
12
Which element of culture includes the governmental system/laws of a people?
Language
Politics
Society
Geography
13
What is a bullish stock market?
When the market equilibrium does not change.
Prices are generally falling over time.
Prices on average are rising over time.
When the speculation maintains the share price index.
14
What is a disadvantage of being an entrepreneur?
Your work schedule is always predictable
You have more control over your work
You have a more flexible schedule
You do not always receive a regular paycheck
15
What did people do to get what they wanted before there was money?
bitcoin
stole it
barter
Magic!
16
A process of converting an urban neighborhood from low income renters to amiddle class area
value added
gentrification
sprawl
productivity
17
What has been used as money by different groups of people in the past?
gold
spacebucks
shells
cows
18
Typically a group of people with a high literacy rate will _______
have a nice family
have a high standard of living
have a low GDP per capita
have a big house
19
Specialization leads to:_________
Price System
Private Property
Voluntary Exchange
Market Competition
20
The start of agriculture 3000 years ago is known as
The Agricultural Revolution
really lucky for animals being hunted
The Beginning of The End
The Big Mac
21
Trae Young ate at Henry's making it the most popular in Acworth. Prices will... because...
increase; high demand
decrease; low supply
decrease; low demand
increase; low supply
22
In order to help its economy, Turkey has tried to join which organization?
European Union
United Nations
OPEC
NATO
23
What is the typical hourly pay rate for a Nike sweatshop worker?
$2.00
$20
$0.20
$0.50
24
Jessica set up a stand outside of the school where she sells chocolate.
good
service
25
OPEC controls much of ...
the worlds sand
the worlds Oil
the video game industry
the worlds water
26
When people buy stock on a stock market,
the person selling the stock receives money
The corporation promises to pay them a return
The corporation loses money
The person buying the stock receives money
27
Turkey helped its economy by investing in its
community banks
military
infrastructure
sports teams
28
A country's parliament votes to increase tariffs on goods from another country. This example is
a socialist congress preventing free enterprise
a representative democracy restricting trade.
a communist government allowing freedom of speech.
a monarchy encouraging free trade
29
How does a rise in the literacy rate cause a rise in standard of living
If you spend more time reading you have less time for money
People with a high literacy rate make less money
Better education = better job = higher standard of living
Those who cannot read can make more money
30
Only current female and youngest person ever on the NY Stock Exchange
Mrs. Forester
Lauren Simmons
Ruby
Selina Kyle
31
What is a Quota?
A limit on goods
A stop on trade
A tax on goods
The government giving away money
32
True or False:
Literacy rate does not have a big effect on the standard of living of a country.
True
False
33
How does a free market economy view property rights?
All property is public
Private property is respected and kept secure
No citizen has the right to own private property
There are many limitations to owning private property
34
When a producer cannot keep up with the demand for a product.
equilibrium
surplus
stinginess
shortage
35
Roblox recently went public in the stock market
True
False
36
Which product would NOT come from Canada?
Maple Syrup
Fish
Newspaper
Bananas
37
The estimated for budget GTA 6
7 Robux
$2 Billion
$100 Mllion
$1 Million
38
What is the purpose of a tariff, such as a tariff?
to increase the prices of imported goods
to decrease the prices of exported goods
to increase the prices of exported goods
to decrease the prices of imported goods
39
What is a positive impact of oil reserves in a country?
Conflict due to competition
An increased GDP
Pollution
Increased plant growth in the area
40
How much of a product is available for purchase.
supply
demand
surplus
shortage
41
Shawn opened a business fixing other students' chromebooks. Good or service?
good
service
42
95% of the oil in Saudi Arabia is controlled by the government, this type of econ system is?
market
command
traditional
mixed
43
Which element of culture includes the climate and natural resources available?
Society
Language
Geography
Politics
44
What is agriculture?
The science or practice of farming
Making of machines
The study of technology
Jewelry and design
45
specialization :
he process of concentrating on and becoming expert in a particular subject.
a country makes the products it can produce best and that are in demand
46
Agriculture helped change the world by helping to
all of the above
increase population
provide a steady food supply
create cities
47
The study of how decisions are made to distribute limited resources to satisfy wants and needs
Government
Economics
Geography
Politics
48
law that says any Jew can immigrate to Israel and become a citizen
Partition
Law of Return
Assimilate
Mandate
49
Ronaldo, the world's 8th best player, just quit. Juventus ticket prices will... because
decrease; low demand
increase; low supply
increase; high demand
decrease; high demand
50
When there is more of a product available than people willing to buy it.
shortage
demand
surplus
supply
51
Puedes leer esto?
Si
how we 'posta know this!?
No
52
How has Turkey's economy changed?
from command to mixed
from command to traditional
from market to mixed
from traditional to command
53
Which of the following has the most diversified economy?
Saudi Arabia
Turkey
Israel
54
Specialization
When your not good at anything.
When you are really good at one specific thing.
None of the above.
A special person.
55
This physical feature contains the majority of the oil in the world.
Persian Gulf
Red Sea
Arabian Sea
Suez Canal
56
An agreement signed between the PLO and Israel.
Camp David Accords
Warsaw Pact
PLO Pact
Oslo Accords
57
5 DMS students got sick after eating at Andrew's new restaurant. Prices will...because...
increase; high demand
decrease; high demand
decrease; low demand
increase; low demand
58
What language is the language of business in Europe and is a widely spoken language?
Spanish
German
French
English
59
The money used in a country is called...
gold
bitcoin
currency
wage
60
The way goods and services are produced and consumed is called the...
Economy
Government
Production
Gambling
61
Taco Bell opening a restaurant in India is an example of...
colonization
cultural diffusion
immigration
war
62
Which is NOT a way culture is spread?
war
isolation
trade
immigration
63
Gross Domestic Product or GDP is....
The legal economy that governments tax
Calculates the monetary worth of whats produced in a country
goods and services produced within a country during a year.
The amount of $ Erik spends on snacks
64
Which element of culture refers to the traditions/practices of a culture?
Language
Society
Customs
Religion
65
When countries depend on connections to other countries for their economy (Global Economy)
Wildcat Way
Depends
Dependent
Independent
66
The annual global population growth rate increased approximately 10,00 years ago because of the
Industrial Revolution
Agricultural Revolution
Demographic transition
Medical Revolution
67
Jose sells Barcelona uniforms out of his locker.
good
service
68
Which of the following is an example of a traditional economy?
bartering with a seller
buying a Tesla with Bitcoin
paying for services by check
using currency to pay
69
A challenge facing Saudi Arabia's economy is
few jobs
unemployment is high
lack of human resources
few valuable resources
70
Saudi Arabia’s literacy rate rose to over 78% by 2009. Why is this important for S.A. econ?
It helped to decrease the country’s GDP.
It has helped increase foreign trade.
It helped to increase the country’s GDP.
It caused a decrease in foreign debt.
71
Which of the following is an example of a traditional economy?
using currency to pay
buying a Tesla with Bitcoin
paying for services by check
bartering with a seller
72
Why would people want to invest in the stock market?
To gamble
To help a company go bankrupt
To make money
To lose money
73
Which of the following generalizations about oil in the Middle East is correct
Middle Eastern oil profits go to Europe and United States
Nations with oil have benefited from oil wealth the most
Oil has benefited the entire Middle East equally
Oil has ruined the economies of Middle Eastern nations
74
Which of following
best
describes a market economy?
The government provides services, like phones & television
The government provides food and housing to all workers
National businesses, such as airlines, are owned by the govt
A person can start any legal business and charge any price
75
What is Urban Sprawl?
The rapid growth of an urban area, increasing development
Population decrease in an urban area
Slow growth in an urban area, decreasing in resources
FAST growth in an urban area, decreasing in resources
76
What are capital resources?
the things from nature you use
the workers
the tools and buildings
77
What is a Stock Market Exchange?
A place for lunch.
A marketplace for antiques.
A marketplace for stocks, bonds, etc. to trade.
A fleamarket in which goods are sold.
78
How has Saudi Arabia's economy changed?
from mixed to command to market
from command to market to traditional
from traditional to command to mixed
from market to mixed to command
79
GNP or Gross National Product is....
Measure of total value of the goods & services in a year
The legal economy that governments tax and monitor.
GDP + Investmens
goods and services produced within a country during a year.
80
The relationship between the
literacy rate and standard of living
in Southwest Asia is ______.
Low literacy rate creates a higher standard of living.
Higher the literacy rate the higher the standard of living.
Literacy rate has no effect on the standard of living.
The standard of living is independent of literacy rate.
81
How did Israel respond to Hamas being Elected governors of Gaza in 2006?
Shout
Shoot
Blockade
Fight
82
When a country or business focuses on producing its best products or services
Supply and Demand
Scarcity
Fortnite
Specialization
83
What does OPEC stand for?
Old People Eat Chocolate
Organization of Petroleum Exporting Countries
Oil Pumping Effects Children
Organization Pumping Extra Crude-oil
84
When a country has a market economy, which of these statements correctly defines this system?
workers are guaranteed a pay raise every year
basic goods in the country are provided at no charge
the government controls most of the business in the country
Companies produce goods & consumers decide tobuy the goods
85
Shorting a stock involves what?
Betting on stocks going down
Betting on stock prices going up
Cutting your pants to make them shorts
Buying stock in Apple
86
A market economy is very different from a command economy. Which is found in a market economy?
competition
guaranteed yearly pay raises
government control of industry
government control of agriculture
87
Why have so many nomadic people left the desert and moved to the urban areas?
Ethnic Conflict and war
Less harsh environment
Work in Oil Industry
Residential and commercial development is pushing them out.
88
What is human capital?
human effort
The accumulated knowledge and skills of human beings
The physical goods needed to opertate a business
economic wants
89
True or False: The New York Stock Exchange is located on Wall Street.
False
True
90
Which of the following occurs on the right side of the economic continuum?
less government control
more government control
lower GDPs
higher GDPs
91
A population pyramid shows
Voluntary migration of a particular population
Age and sex distribution of a particular population
Potential migrants that leave a place
The average number of children born to a woman
92
How does OPEC regulate the world market?
They compete against each other
They work together to fix the price of oil
They export as much oil as possible in order to sell a lot
They keep a close eye on the stock market
93
Liv ate all of the Takis in the area and the company cannot keep up. Prices will...because...
decrease; shortage
increase; surplus
increase; shortage
decrease; surplus
94
Of the following what's the most southerly city; Toronto, Seattle, Budapest or Bordeaux?
Budapest
Bordeaux
Seattle
Toronto
95
The measure of how many people want to buy a good or service.
supply
equilibrium
demand
GDP
96
Which of the following are stateless nations?
Iran
Iraq
Palestine
Kurdistan
97
Taxes on imported goods are called...
Tariffs
Trade deficits
Embargoes
Annoying
98
When a company can constantly sell a product for the same price and keep up with demand.
equilibrium
shortage
abundance
supply
