stud
bud
Sign up
Log in
Home
Library
Explore
SAT
More
Economics Unit Review Flashcards | StudBud
Explore
/
Economics Unit Review
Economics Unit Review
20 terms
·
StudBud Administration
·
386 plays
Economic basics for 7th grade global issues class
Flashcards
20 cards
F
Practice quiz
P
Host live
L
Questions
20
Answers
1
One impact globalization has had on the USA is
Greater chance to export U.S. goods to other countries
A decrease in the number of factory jobs in the US
All of the above are true
A greater choice of affordable goods and services
2
A developed country has
All of the above are true
Good health care
Good education
Lots of industries
3
A criticism of capitalism is that
Some workers are paid much more than others
Products are boring and poorly made
Consumers have few choices of products
4
Countries we refer to as capitalist are usually not 100% capitalist because
All of the answers are true
They have minimum wage laws
Their governments give retirement checks to old people
Their governments build roads, bridges, airports
5
Globalization has speeded up in the last 50 years due to
Better communication and transportation
The invention of ships
The growth of cable television
6
A type of economic system in which people meet their own needs often through barter
Traditional
Market
Command
7
Two other names for a market system are
Communism & Socialism
Capitalism & Free Enterprise
Market & Traditional
8
Developing countries like globalization because
It brings more factory jobs to their countries
It has made their citizens very wealthy
It helps their citizens buy expensive items from the U.S.
9
Companies in developed countries like globalization because
It reduces imports from developing nations
It helps them make goods cheaply in developing countries
It brings more jobs to factories in their countries
10
A criticism of communism is that
People are paid too much
Consumers have few choices of products
Some workers are paid much more than others
11
A developing country has
Lots of industries
Good education
Good health care
Not much technology
12
Two types of command economic systems are
Communism & Capitalism
Communism & Socialism
Market & Traditional
13
A country where the government owns some major businesses and allows some private companies is
Socialism
Communism
Capitalism
14
The wealthiest country based on GDP per capita is
A country of 10 million people with $500B in GDP
A country of 200 million with $600B in GDP
A country of 20 million people with $500B in GDP
15
A country where the government runs all businesses is
Socialism
Communism
Capitalism
16
An economic system in which companies play a large role and government's role is small
Market
Traditional
Command
17
One bad impact globalization has had on developing countries is
Some of the factories have awful working conditions
More people have moved from farms to factories
Developing countries now have more money for education
18
GDP is used to rank countries because
GDP measures education
GDP measures health care
GDP measures the size of the economy
19
Globalization means
The movement of people to our planet
The movement of people to cities
A large increase in international trade
20
A type of economic system where the government plays a large role
Market
Command
Traditional
