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Reviewing Economics Part 2
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What TYPE and LEVEL of Industry is shown here?
MANUFACTURING/SECONDARY
What TYPE of Industry is shown here?
AGRICULTURE
The TYPE of industry called SERVICE is at which LEVEL of Industrial Production?
TERTIARY
Which LEVEL of Industry strives to make existing products better by gathering information: research, gather data, & provide information.
QUATERNARY
Which LEVEL of Industry provides a service: such as restaurants, supermarkets, hospitals, education, & emergency services.
TERTIARY
Which LEVEL of Industry makes products using the natural resources: construction, factories, and processing plants.
SECONDARY
Which LEVEL of Industry takes natural resources from the Earth: mining, forestry, fishing, & agriculture.
PRIMARY
What TYPE of Industry is shown here?
WHOLESALE!!!!
What TYPE of Industry is shown here?
SERVICE
What TYPE of Industry is shown here?
RETAIL
In order to determine a country's per capita GDP, you must divide the Gross Domestic Product by what?
POPULATION
Which ECONOMIC INDICATOR tells the number of babies (out of 1,000) that dies before reaching age 1?
INFANT MORTALITY RATE
What TERM refers to items sent IN to a country and therefore purchased from somewhere else?
Import
What term refers to "the countryside" ; i.e. the opposite of URBAN?
RURAL
Name a COUNTRY that still uses a COMMAND economy today?
NORTH KOREA or CUBA
Who or what makes ALL decisions and controls all means of production in a COMMAND ECONOMY?
GOVERNMENT
What TERM refers to a condition where a business's total revenues exceed their costs? (p.s. this is the GOAL of ALL businesses)
PROFIT
Which systematic manufacturing process allows for the mass production of products in a most efficient manner?
ASSEMBLY LINE
The TYPE of Industry called AGRICULTURE is at which LEVEL of Industrial Production?
PRIMARY
The TYPE of Industry called MANUFACTURING is at which LEVEL of Industrial Production?
SECONDARY