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