Home Library Explore SAT

Home Library Explore SAT

Econ review for Final Flashcards | StudBud

Explore/Econ review for Final

Econ review for Final

10 terms·StudBud Administration·41 plays

Imported from external platform

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

1
How much consumers want an item is known as
demand
export
supply
import
2
What is the most challenging international natural trade barrier for Australia?
thick rainforests
the Canadian Shield
large mountain ranges
the Pacific Ocean
3
What are imports?
Things Australia sells to other nations
Things Australia buys from other nations
Things Australia buys from Aborigines
Things Australia sells to Aborigines
4
How much of an item is available to sell is known as
demand
import
supply
export
5
Which of these is a major natural resource of Australia?
koalas
snakes
sheep
dingos
6
The percentage of people in a country over the age of 15 who can read and write is known as
natural resources
entrepreneurism
literacy rate
human capital
7
What are investments in the welfare and training of human workers called?
poverty
entrepreneurs
human capital
capital goods
8
What are exports?
Things Australia buys from Aborigines
Things Australia buys from other nations
Things Australia sells to other nations
Things Australia sells to Aborigines
9
Nation's that are more economically developed tend to have
lower literacy rates
higher literacy rates
less investment in capital goods
decreasing GDP
10
Australia's economy can be best described as a
Traditional
Command
Market
Socialist