chapter 6

Question 1

People freely choose what to buy and sell

Answer 1

market economy

Question 2

This system lets competition among businesses determine the price of products

Answer 2

free enterprise

Question 3

Businesses, industries, and resources are privately owned

Answer 3

capitalism

Question 4

The government decides what to produce, where to make it, and what price to charge

Answer 4

command economy

Question 5

Is an economic and political system in which the government owns or controls almost all means of production

Answer 5

communism

Question 6

Is the total value of goods and services that a country produces in a year

Answer 6

gross national product

Question 7

Includes only goods and services created within the country (located in foreign lands)

Answer 7

gross domestic product

Question 8

Is the process by which manufacturing, service, and information industries

Answer 8

industrialization

Question 9

The percentage of people who can read and write, also reflects standard of living

Answer 9

literacy rate

Question 10

High levels of industrialization, and their people enjoy high standards of living

Answer 10

developed countries

Question 11

Is a system of roads, ports, and other facilities needed by modern economy

Answer 11

infrastructure

Question 12

Less developed countries

Answer 12

developing countries

Question 13

The goods a country brings in from different nations

Answer 13

import

Question 14

The goods a country sells or trades with another nation

Answer 14

export

Question 15

The ability to produce something at a lower opportunity cost than another country can.

Answer 15

comparative advantage

Question 16

Use of tactics that make imported goods more expensive than domestic goods.

Answer 16

protectionism

Question 17

Tax on imports. The goal is to make imported goods higher than those produced at home

Answer 17

tariff

Question 18

A limit placed on the amount of a particular good that enters a country (US has a long history of putting a quota on imported sugar)

Answer 18

quota

Question 19

a payment or other benefit given by the government to help a domestic producer. (US and Europe pays subsidies to farmers)

Answer 19

subsidy

Question 20

Hunters and gathers learned how to grow plants and tame animals for their own use, this innovation is called

Answer 20

domestication

Question 21

The growth in the proportion of people living in towns and cities is called

Answer 21

urbanization

Question 22

Some cities grow into huge urban areas called

Answer 22

world cities

Question 23

Transportation hubs where roads, railroads, and buses come together.

Answer 23

central business district

Question 24

These clusters of large buildings away from the CBD are called

Answer 24

edge cities

Question 25

Farmers clear trees or bush for planting

Answer 25

shifting cultivation

Question 26

Herding animals cattle, goats, horses, sheep, or other animals provide milk and meat for pastoralists

Answer 26

pastoralism

Question 27

Under this system, farmers grow products to sell to consumers

Answer 27

market-oriented agriculture

Question 28

Boundaries that follow a feature of the landscape are called

Answer 28

natural boundaries

Question 29

Boundaries that follow regular, geometric patterns are called

Answer 29

geometric boundaries

Question 30

Feeling pride and loyalty for one’s country or culture group is called

Answer 30

nationalism

Question 31

One person or a few people decide what is best for everyone

Answer 31

totalitarian government

Question 32

In other countries, all citizens have a voice in their government. These countries are based on

Answer 32

Democracy

Question 33

Taxes on imports and exports

Answer 33

tariffs

Question 34

Limits to the amount of a product that can be imported

Answer 34

quotas