2015 STAAR Review Terms #4

Question 1

culture

Answer 1

ways of life and the groups that live and represent that way of life

Question 2

demographic data

Answer 2

statistics about the numbers and characteristics of people living in an area

Question 3

level of development

Answer 3

refers to the amount and quality of economic and industrial resources, often related to national income

Question 4

standard of living

Answer 4

use indicators such as income, education, birth rate/ death rate, $ spend on food, population density, and so on to determine quality of life

Question 5

nation

Answer 5

country with borders and organized government which freely exercises authority within the borders

Question 6

distribution

Answer 6

related to trade and how resources and products are divided and placed

Question 7

free enterprise economic system

Answer 7

the system in the US and other free market economies. it is includes economic choice, competition, profit choice, competition, profit motive, and limit government regulation of the economy

Question 8

command economic system

Answer 8

central government owns most of the means of production in a country and controls most economic decisions

Question 9

basic needs

Answer 9

food, clothing, shelter

Question 10

goods and services

Answer 10

goods (things) are products made for sale/ barter and services (actions) are products people provide

Question 11

subsistence agriculture

Answer 11

growing crops just to support a family and not have any extra *surplus for sale

Question 12

market oriented agriculture

Answer 12

growing crops for commercial sale and distribution to domestic and international buyers

Question 13

capital

Answer 13

goods used to produce other goods

Question 14

cottage industries

Answer 14

small scale production requiring little capital

Question 15

commercial industries

Answer 15

large scale production of goods by large companies and corporations

Question 16

industrialization

Answer 16

the process of creating commercial industry including heave industry such as steel

Question 17

trade

Answer 17

exchange of goods and services

Question 18

technological innovations

Answer 18

the introduction of new technology which often changes lifestyle and production

Question 19

tariff / duty

Answer 19

tax on imports and exports; in the US export tariffs are unconstitutional

Question 20

protective tariff

Answer 20

a high tariff established to protect a particular industry

Question 21

export

Answer 21

goods sold to buyers outside the country

Question 22

import

Answer 22

goods bought from sellers in other countries