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Reviewing Economics Part 2

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