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Ramirez-Chapter 8 Lessons 1-3 Review Questions Flashcards | StudBud
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Ramirez-Chapter 8 Lessons 1-3 Review Questions
Ramirez-Chapter 8 Lessons 1-3 Review Questions
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StudBud Administration
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143 plays
Economics / Our State Economy
Flashcards
10 cards
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Practice quiz
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Host live
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Questions
10
Answers
1
Which of the following is not something that banks do?
Use your money to go on vacations
Pay people interest for keeping money in the bank
Provide loans for people
Help people manage their money
2
What things are people saying should be slowed down because of this issue?
Rate of population growth and pollution
Rate of urbanization and pollution
Rate of inflation and pollution
Rate of urbanization and population
3
What is the most widely accepted form of exchange in most countries?
Money
Begging
Bartering
Gold and Silver
4
Relying on others to make products we need in exchange for products we specialize in is:
Interdependence
Cultural awareness
Economic sharing
Specialization
5
Which resource do we not have enough of to meet our needs?
Coal
Water
Bread
Chilies
6
Our free enterprise system directly impacts decisions at all the following levels of government except:
Local government
State government
Provincial government
Tribal government
7
What does tourism do for our state’s economy?
There is no tourism in New Mexico
It helps the economy
It does not impact the economy
It hurts the economy.
8
What other economic systems are found in New Mexico?
Animal-powered economies
Traditional economies
Command economies
Tribal economies
9
Which is not an example of trade?
Selling your old bicycle
Buying lunch
Exchanging your old hoodie for your friend’s baseball cap
Taking something without paying for it
10
What is free enterprise?
An economic system where all goods andservices are free of charge
An economic system completely controlledby the government
An economic system where supply and demand determine value and price
An economic system where the governor determines value and price
