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Cu and Economics Review Flashcards | StudBud
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Cu and Economics Review
Cu and Economics Review
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1
Which word is defined as “a way of life of a given people at a given time including language, behavior...?
Acculturation
Domestication
Specialization
Culture
2
Golf is a very popular sport in the U.S.A. It is an example of ___?___.
Acculturaion
Ethnocentrism
Assimilation
Cultural Diffusion
3
What term is defined as “anything that can be used to satisfy human needs and wants?”
resources
consumer
surplus
marketable product
4
Where should you look to understand symbols on a map?
the title
the scale
the compass
the legend
5
_________________--land, labor, capital and entrepreneurship.
Factors of Production
Economic Systems
Public Goods
Opportunity Cost
6
To make similar by choice or force.
Acculturation
Ethnocentrism
Cultural Diffusion
Assimilation
7
Name of the person who assumes the risks/costs of starting a business.
Entrepreneur
Stockholder
Consumer
Dividend
8
What were early humans able to do once they produced a surplus of food?
Move from place to place as nomads.
Make sure every person was working toward producing art.
Nothing, because surplus means “to not have enough”.
Begin to specialize in jobs, other than farming.
9
What causes trade between two groups of people?
It is a way to prevent wars.
To make better communication routes.
One country hopes to show off its natural resources.
One group needs resources that they don’t have.
10
What is the main idea of the article "The High Cost of Fast Fashion"?
to explain how ultra-fast fashion harms workers and the environment.
to argue for stronger protections for garment workers.
to describe how social media influencers shop
to tell how the U.S. clothing industry has changed in recent decades
11
_____ is the amount of money left over from a sale after all expenses have been taken out.
consumer
dividend
profit
stock
12
Which step on the CU pyramid expresses creativity and wouldn’t happen without the the stability of other steps?
Arts
Basic Needs
Economics
Religion
13
Ump created the “Fwat” which is a __?__, with the intent to sell it for a profit. He knew there was a high demand.
nomad
consumer
marketable product
surplus
14
Once there was a surplus of food in the early river civilizations, people began to specialize. “Specialize” means…
to be a buyer of goods and services.
to not have enough resources.
each person doing one small part of a job or focusing on one specific job.
a person who assumes all the risks and costs of starting a business.
15
What term is defined as “when 2 or more people or groups rely on each other for something they need/want?”
interdependence
private sector
price
self-sufficient
16
__________ is all the options that are lost when a decision is made or resources are used.
Import
Invest
Export
Opportunity Cost
17
Which word is defined as “when people believe that their way/culture is the best and only one that is “right”?
Assimilation
Cultural Diffusion
Ethnocentrism
Acculturation
18
There is a high demand for shoes, but there is a low supply. According to the laws of supply and demand...
Supply doesn't influence price.
The shoemaker should lower the prices.
The shoemaker should raise prices.
Demand doesn't influence price.
