Home Library Explore SAT

Home Library Explore SAT

Chapter 8 Lessons 1-3 Review Questions Flashcards | StudBud

Explore/Chapter 8 Lessons 1-3 Review Questions

Chapter 8 Lessons 1-3 Review Questions

10 terms·StudBud Administration·250 plays

Economics / Our State Economy

Flashcards10 cardsFPractice quizPHost liveL

Questions 10

Answers

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