Economics Test Review

Which sector would farming fall under?

• Primary

• Secondary

• Tertiarty

• Quaternary

Which sector would designing a new iPhone for Apple fall under?

• Primary

• Secondary

• Tertiary

• Quaternary

Which sector would selling that iPhone to a customer fall under?

• Primary

• Secondary

• Tertiary

• Quaternary

Which sector would making a T-shirt out of cotton someone farmed fall under?

• Primary

• Secondary

• Tertiary

• Quaternary

When a country's economy moves from mostly primary sector to the secondary sector, this is known as...

• Deindustrialization

• Industrialization

• Manufacturing

• Building

When an economy moves from manufacturing to the service industry this is known as...

• Deindustrialization

• Industrialization

• Service Building

• Reindustrialization

Which economic system is defined by citizens owning businesses and little government interference?

• Capitalism

• Communism

• Socialism

• Traditional

Which economic system is defined by the government owning some industries in order to provide services such as healthcare and education?

• Capitalism

• Communism

• Socialism

• Traditional

Which economic system is defined by the government owning all industries?

• Capitalism

• Communism

• Socialism

• Traditional

What does the "Rust Belt" refer to?

• An old belt

• A run down factory

• An area of the country that has declined in the post industrial economy, includes cities like Detroit, Cleveland, and Pittsburgh

• An area of the country that has grown in the post industrial economy, includes cities like Charlotte, Atlanta, and Tampa