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Unit 3 Test Review
Unit 3 Test Review
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Questions
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Answers
1
I refer to the
value
of all good and services produced within a country. Who am I?
Gross Domestic Product
Trade Surplus
Localization
Balance of Trade
2
A doctor, lawyer, and construction worker are examples of _______ resources.
Natural
Human
Capital
Stored
3
Looking at the map, which region of Africa has the lowest % of electricity that is produced through renewable resources?
Southern Africa
West Africa
Central Africa
North Africa
4
Education and skills does not play a crucial role in a country's development.
True
False
5
Which economic system is based on private ownership of resources and the pursuit of individual profit?
Communism
Socialism
Capitalism
None of the above
6
Globalization has
NOT
enabled people to access more products and services globally.
True
False
7
Tariff
is a tax imposed in imported goods to protect domestic industries.
True
False
8
Education and skills training does not play a crucial role in a country's development.
False
True
9
True or False:
The Port of New Orleans is a
major
hub for trade and transportation.
False
True
10
Which of the following is a potential negative consequence of economic interdependence?
Increased cultural exchange and understanding
Overdependence on a single country for resources
Decreased income inequality worldwide
Improved standards of living for all populations
11
Competition & Individuals drive the market in ________.
Socialism
Communism
Capitalism
Imperialism
12
Which President authorized the Louisiana Purchase?
John F. Kennedy
Thomas Jefferson
Abraham Lincoln
John Adams
13
H.D.I or Human Development Index is a good indicator of development because
it uses economic indicators
it is comprehensive
it uses social indicators
All of these
14
What did Marx believe was the focus of class struggle?
Ownership of the means of production
Access to education
Availability of resources
Distribution of wealth
15
What is the nickname given to the Mississippi River?
Essential Waterway
Main Export channel
Giant River
Father of the United States
16
The Louisiana Purchase was acquired in 1810.
True
False
17
What region is home to the most vital port system in the Gulf of Mexico?
South Louisiana
Galveston Bay
Houston
Gulfport
18
What were conditions like in many factories?
None of the above
Sanitized/Safe
Dirty/Dangerous
Clean/Tidy
19
Which of the following is NOT one of the 6 Factors that affect development?
Political stability
Technology & Industrialization
Income inequality
History
20
On what continent did the Industrial Revolution begin?
Australia
United States
Asia
Europe
21
_____ created capitalism.
Louisiana Purchase
WWII
Industrial Revolution
Port of New Orleans
22
Oil and natural gas are _________ resources.
Capital
Natural
Human
Stored
23
How does
globalization
impact job opportunities?
It decreases job opportunities for local workers
It has no impact on job opportunities.
It creates a job opportunities only for skilled workers
It increases job opportunities worldwide
24
In what economic system did the government have control of everything?
Imperialism
Capitalism
Communism
Socialism
25
In which economic system are consumer choices and market competition the driving forces?
Communism
Socialism
Capitalism
None of the above
26
Which economic system prioritizes collective ownership of resources and central planning?
Capitalism
Socialism
Communism
None of the above
27
In what century did industrial capitalism develop in Britain?
12th century
17th century
19th century
15th century
28
Money and tools that provide goods and services are considered _________ resources.
Human
Natural
Capital
Stored
29
What does Mediterranean farming specialize in?
Coffee, bananas, sugar
Butter, cheese, milk
Rice
Grapes, olives, and figs
30
How did the Industrial Revolution change society?
all of these
it caused pollution
it changed the family
it caused urbanization
31
What city besides New York and California is highlighted as a major heavyweight in the U.S.?
New Orleans
Miami
Chicago
Seattle
32
How much did the United States purchase the Louisiana Territory for?
10 million dollars
15 million dollars
5 million dollars
20 million dollars
33
Which of the following is NOT an example of an Economic Indicator of Development?
H.D.I
Healthcare
Income inequality
G.D.P
34
What was an unexpected outcome of the Louisiana Purchase territory in terms of resources?
Limited access to water
Lack of fertile land
Lack of natural resources
Abundance of gold and silver
35
What is the main focus of shipping goods through the Louisiana Port System?
Domestic cars & grain
Chemicals
Imported luxury goods
Electronics
36
Which of the following is an example of a multinational corporation?
A government-run hospital
A family-owned grocery store
A small local bakery
A clothing company with factories in multiple countries
37
Why were there less agricultural workers during the Industrial Revolution time period?
Select all that apply.
Factories offered easier kinds of work
New technologies made farming easier
None of these
Urbanization was taking place