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