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Trade & Commerce Review Flashcards | StudBud
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Trade & Commerce Review
Trade & Commerce Review
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Questions
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Answers
1
What is the biggest investor in the United States?
Ecuador
China
Japan
Venezuela
2
What was the last country to join OPEC?
Ecuador
Algeria
Angola
Nigeria
3
In economics the price of goods is determined by?
taxes
supply and demand
exports
imports
4
What was the biggest game changer about how the modern world works?
the fall of communism
the rise of the US as a global super power
the creation of renewable energy
the creation of OPEC
5
Who won the state championship in soccer this year?
Carmel
Center Grove
Lake Central
Harrison
6
Africa has many natural resources but lacks an adequate supply of freshwater.Thisisanexampleof?
imports
scarcity
exports
bartering
7
When was Earth overshoot day in 2015?
December 18
August 13
November 5
July 4
8
What country is the world's top oil producer?
Iraq
Venezuela
Iran
Saudi Arabia
9
Who should care most about the national debt?
middle aged people
no one
young people
old people
10
What is the United States debt currently?
17 trillion
12 trillion
29 trillion
36 trillion
11
What saved the whales?
the story Moby Dick
nuclear power
the discovery of oil
activists that protested whaling
12
Using S & D, which of the following is likely to be true of wheat in Saudi Arabia?
the supply will be low and the price will be high
the supply and price will be high
demand will be high and the price will be low
the price will be low because the supply is high
13
Innovation is often
calculated
unpredictable
found in college labs
a surprise
14
What creates wealth?
innovation
knowledge
your own business
money
15
Investment in improved transportation & communication systems is usually done with the intent
increase tax revenues
increase transportation costs
increase regional divides
to increase economic growth
16
See picture
free trade
mixed economy
exports
imports
17
How was the United States involved in the Oil Embargo of 1873? See Picture
D
C
A
B
18
Besides the Oil Embargo of 1973 what other event led to another oil shock?
the 1979 Iranian Revolution
the fall of the Soviet Union in 1992
the fall of the royal family in Saudi Arabia
the Korean War
19
Based on the map which answer is correct
The EH was a wider variety of resource than the WH
More diamonds come from the WH than the EH
The EH has fewer petroleum reserves and products than the WH
The WH has a wider variety of resources than the EH
20
See picture for question
scarcity
economics
laissez faire
supply and demand
21
Which of the following statements is true regarding the future of water?
scarcity of thisresource could cause conflicts in the future
conflicts will never occur over water
the US will not have to worry about fresh water in thefuture
whoever control this resource controls the world muhahahaha
22
Which 19-year-old boxer became in 1986, the youngest ever to win the heavyweight title?
Vladimir Klitschko
George Foreman
Mike Tyson
Evander Holyfield
23
According to Bloomberg News, the cost of college tuition has risen by
1000%
265%
100%
535%
24
What are the two bad outcomes of higher minimum wages?
no innovation
unemployment
higher prices
more taxes
25
Which of these is NOT a product derived from oil?
soap & hair conditioner
plastics & nanotubes
paints & insecticides
fabrics & inks
26
A natural resource is defined by three elements
cultural values, technology, and economic systems
resource availability, technology, and economic system
cultural values, resource availability, and economic system
cultural values, technology, and resource availability
27
What helped foreign cars gain a share of the car market in the United States?
they were faster than American cars
the oil shocks from the Middle East
they were more fuel efficient than American cars
they looked cooler
28
See picture
It's the end of the world as we know it.....
Doomsday
Earth Overshoot Day
Shoot Over the Earth Day
29
What leads to dynamic economic growth?
money
innovation
freedom
knowledge
30
Use the picture to answer the question
A majority of the earth's H2O is suitable for human drinking
Earth's fresh water is primarily in glaciers and ice caps
Most of the earth's fresh water is easily accessible
living things require a huge amount of the earths H2O supply
31
Which of the following is NOT a nonrenewable resource?
coal
iron ore
gold
water
32
Laissez-faire capitalism
emphasizes theimportanceofminimalrestrictions on the economy
was adopted by the Soviet Union during the Cold War
is also known as state-directed capitalism
maximizes the role of the government in the economy
33
In a communist political economy, natural resources and productive enterprises are owned by?
the government
foreigners
corporations
individuals
34
Where was the first commercial oil well dug in the United States?
Pennsylvania
Alaska
Texas
Gulf of Mexico
35
Why do countries in the middle east need to diversify their countries? (See Picture)
D
A
B
C
36
See picture
economics
command economy
laissez-faire
mixed economy
37
The world is expected to increase in population from 7.3 billion to 11.2 billion by 2100...
this is due to the high fertility rates in Africa
this is due to the increased longevity of the world
because of the high teenage pregnancy rates in the U.S.
because people like to have unprotected sex
38
Out of 100 students who enter a four-year college only
75% graduate
25% graduate
36% graduate
59% graduate
39
Who beat Avon in the football Semi-State game?
Cathedral
Ben Davis
Brownsburg
Center Grove
40
Before Middle Eastern countries took over the oil industry, who was in control?
4 Asian & European companies
1 American, 2 European, & 1 Asian company
South American businesses
4 American & 3 European companies
