#3 Market Integration

Question 1

Sectors of the Economy

Answer 1

Primary Sector - extractor of raw materials from natural environments

Secondary Sector - raw materials are transformed into goods

Tertiary Sector - services

Question 2

History of Market Integration

Answer 2

Agricultural Revolution
Industrial Revolution
Information Revolution

Question 3

Two Economic Systems

Answer 3

Socialism
Capitalism

Question 4

Social Problems of Market Integration

Answer 4

Environmental Exploitation
Worker Exploitation
Corporate Monopolies

Question 5

Causes of Environmental Exploitation

Answer 5

Overpopulation
Urbanization
Overconsumption

Question 6

Effects of Environmental Exploitation

Answer 6

Global Warming
Scarcity of Resources
Price Hikes

Question 7

Causes of Worker Exploitation

Answer 7

Income Inequality
Limited Labor Laws
Concentrated Corporate Power

Question 8

Effects of Worker Exploitation

Answer 8

Psychological Distress
Decrease in Productivity
Recurring Chain if Misconduct

Question 9

Causes of Corporate Monopolies

Answer 9

Corporations having Resource Control
Corporate-Funded Politicians
Active Market has Low Demand

Question 10

Effects of Corporate Monopolies

Answer 10

Unchecked Corporate Power
Policies Favoring Corporations
Low Quality Products and Services