WG B Study Guide Review: CA #1

Which of the following is not a characteristic of a traditional economy?

• Use of the barter system

• State control of major industries

• Focus on subsistence agriculture

• Reliance on hunting and gathering

Abigail is reading about life in a particular African society. In this society, women are expected to milk the cattle twice a day and retrieve water, which they carry home on the backs of donkeys, as needed. Once every month or so, the settlement moves and each woman must move her belongings and rebuild her home. While most of the transport is done using donkeys, some older women are forced to rely on their daughters, their co-wives, and other female family members for help. Which type of economy is most likely found in the society Abigail is reading about?

• Manorial

• Traditional

• Comman

• Free market

Sawyer is comparing different economic systems throughout history for a social studies project. During his research, he learns about a system in which all economic decisions are made by a group of planners. This group is responsible for assigning resources to the production of specific goods and services, and determining how to produce and distribute those goods and services. Which of the following is Sawyer most likely studying?

• The manorial economy of feudal Europe

• The market economy of the United States

• The command economy of the Soviet Union

• The mercantile economy of eighteenth-century Europe

Under the command economy of the Soviet Union, which of the following was true?

• The laws of supply and demand dictated economic activity.

• A lack of government regulation allowed businesses and individuals to prosper.

• A central authority determined the type and quantity of goods to be produced.

• Consumers dictated production through their buying choices.

In the United States, which sector of the economy employs the most workers?

• primary

• Quaternary

• Tertiary

• Secondary

Which sector of the economy, as a whole, has the most interaction with the natural environment?

• Quaternary

• Secondary

• Tertiary

• Primary

Which sector of the economy, as a whole, is most removed from the natural environment?

• Quaternary

• Secondary

• Tertiary

• Primary

Which sectors belong to the primary level of economic activity?

1. Fishing and farming

2. Mining and forestry

3. Manufacturing and distribution

4. Insurance and banking

• 1 and 2

• 2 and 3

• 1 and 4

• 3 and 4

Which country MOST likely has the highest level of development?

• a country with an expanding industrial sector of the economy

• a nation with a population reliant on subsistence farming

• a country with advanced scientific research centers

• a nation that depends on its mining industry

Which of the following is true in a mixed economy?

• Many profitable industries are nationalized for the economic benefit of the state.

• Consumer demand dictates what goods are produced and in what quantity.

• The state owns all means of production and makes all production decisions.

• Some industries are privately owned, while others are owned by the state.