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Chapter Eight Review Flashcards | StudBud
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Chapter Eight Review
Chapter Eight Review
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Answers
1
Renewable or non renewable
Renewable
Non renewable
2
To promote goods and services
Advertise
Product
Invest
Business
3
Specialization is when you.....?
Becoming expert on a set skill or subject
Eat a whole pizza in less than an hour
Actually study and do your homework
Take naps
4
Renewable or non renewable
Renewable
Non renewable
5
the process by which nations, cultures, and economies become integrated, or mixed.
culturalization
mechinization
immigration
globalization
6
Renewable or non renewable
Renewable
No renewable
7
FreeEnterprise Economies are also called _________________Economies or Market Economies.
government-run
market
socialist
capitalist
8
What is a minimum wage?
the smallest amount a person must receive hourly for work
the smallest amount of food a company must give its workers
the closest a worker can live to where he or she works
the most a person can receive hourly for work
9
A ________ buys goods and services
Profit
Standard of living
Economic system
Consumer
10
When supply is greater than demand, a _________ will result
equilibrium
surplus
shortage
balance
11
What is a surplus?
More of something than is needed
Trade
Farming
Belief in only one god
12
Who determines supply?
Buyers
Sellers
13
What are some causes of urbanization?
More money to make and more opportunity
People playing video games
Too many people in the area
Less pay less work
14
Which of the following is counted in our market Value ?
Illegal Goods
Intermediate Goods
Final Goods
Resold items
15
Aquifer
An underground layer of rock that water Moves through
Water
A small harbor where small boats can dock
On or near the sea
16
What is Free Enterprise?
Economic system, business is mostly free from state control.
Economic system, business is run by the state.
Economic system, state owns all businesses.
Economic system, business is completely free from state.
17
Profit is...
Money earned after all expenses have been paid
total revenue
Cost of labor/total expenses
cost to make products
18
Demand is
a name of a coin used in the Caribbean
the amount of something that is available
another name for a service
the number of people who want or need something
19
When demand is greater than supply, a _________ will result
balance
surplus
shortage
equilibrium
20
What is a non-renewable resource?
A resource I can't take back to Walmart.
A resource that can be renewed.
A resource that cannot be renewed once it runs out.
A resource that costs a lot of money.
21
Interdependence refers to:
act in such a way as to have an effect on each other
mutual dependence that the key functions have on one another
A mutually dependant relationship
Outsourcing
22
Minimum Wage is an example of
disequilibrium
equilibrium
price floor
price ceiling
23
what is sustainability?
capability to endure
capability to survive
capability to kill
capability to adapt
24
Renewable or non renewable
No renewable
Renewable
25
What is Urbanization?
The falling apart of society
The mass production of iron
The movement of people to the countryside
The movement of people to cities
26
What is free enterprise?
People trading goods without using money
THE GOVERNMENT WATCHES OVER WHAT YOU DO
Privately owned companies produce the goods people buy
remember, big brother is watching
27
What does profit mean?
a special person
going up
amount gained, usually from a business
a type of loan
28
Which of these are Non-Renewable Resource
all of them
oil
Natural Gas
Maybe
29
Sustainability means
The pressure the earth's sustains from gravity
Recycling, reusing, burning, energy
Preserving the earth's resources for future generations
Using all of the world's resources because they are endless
30
Job Specialization
Political, social and financial centers.
Defined occupations within a society.
A system that uses symbols to represent spoken symbols.
An item that can help make life easier.
31
What does surplus mean?
To have extra
To have less
Skinny
Small
32
Urbanization
The process of people moving to an underpopulated Urban area
A shift, of humans from rural areas, towns, and cities
The process of severe climate change
Moving to a rural area
33
The impact of COVID-19 on US stock market was:
The stock market rose significantly
The stock market remained the same
The stock market dropped significantly
The stock market shut down
34
The Ogallala Aquifer....
Is not safe for humans
Will last forever
Is disappearing due to overuse
Protects from erosion
35
Profit is?
I dont know
free moneyy
When you sell something
Money you get from business
36
Interdependence means...
One thing relies on the other thing to work
Lots of things working together
All of the above
Someone does something by themselves
37
To make a profit loss report, you
add up the sales then subtract the expenses
add up all the labor costs
equal the sales and expenses
add up the expenses then subtract the sales
