Help
Options
Didn't know it?
click below
click below
Knew it?
click below
click below
Don't Know
Remaining cards (0)
Know
retry
shuffle
restart
0:00
Embed Code - If you would like this activity on your web page, copy the script below and paste it into your web page.
Normal Size Small Size show me how
Normal Size Small Size show me how
GSE 6th Grade SSGE10
Georgia Standards of Excellence SS6E10 Remediation Review
| Question | Answer |
|---|---|
| The _________________ model is historically associated with small-scale economies. | Traditional |
| It is a system in which the decision of what to produce/provide, as well as how to distribute or consume it, is based on _______________ and ______________. | Custom and Habit |
| Economic roles tend to be ____________, which is to say inherited or generational (i.e., a family of carpenters will have children who grow up to be carpenters.) | Static |
| This model does not provide for large scale economic growth and is frequently _________________ in nature. | Subsistent |
| __________________ is another feature characteristic of traditional economies. | Bartering |
| The ______________ model is one in which the government of a nation makes all the economic decisions. | Command |
| This includes _________________ ownership of land and resources, as well as government control of major industries (i.e., transportation, energy, et al.) | Government |
| It can also include government assignment of jobs, ___________ controls, and requisite _______________quotas | Wage, Production |
| Command economies tend to ____________ entrepreneurship and free enterprise to maintain economic stability. | Stifle |
| The _______________ (or capitalist) model places economic decisions in the hands of the people. | Market |
| The law of ___________________ dictate what goods/services are produced/provided, at what price, etc. | Supply and Demand |
| This model encourages __________________ but can be economically unstable in that its success depends upon the capacity of businesses to adapt their products/services to the ever changing wants/needs of consumers. | Entrepreneurship |
| _________________ – a system of exchange whereby one good/service is given in return for another; bartering does not require monetary exchange | Bartering |
| ______________________ – an economic model used by governments to determine what should be produced/provided in terms of goods and services, how, and for whom | Command Economy |
| ______________________ – the capacity of private citizens to create new businesses independent of government direction or intervention | Entrepreneurship |
| ______________________ – the creation, maintenance, and expansion of businesses outside the control or influence of the government. | Free Enterprise |
| ______________________ – the required amount of a specific good that must be produced in a given time frame | Production Quota |
| ___________________ – producing only what is necessary for personal use/survival | Subsistence |
| ______________ – term for one’s financial earnings | Wage |
| No world economy is purely market or command in nature. As such, it is more accurate to characterize an economy as market-leaning or command-leaning on the __________________________. | Economic Continuum |
| All modern world economies can be described as _______________ economies in that they mix market and command (as well as traditional elements) principles in various ratios to suit their national interests. | Mixed |
| _______________________ – a 0-100 scale which ranks world economies from most command-leaning (0) to most market-leaning (100) | Economic Continuum |
| The economy of Australia may be described as mostly ________________-leaning. | Market |
| Unlike most industrialized nations, Australia has not experienced an economic _______________ in over two decades. | Recession |
| Government deregulation of financial and labor markets, coupled with reductions in _____________________, has made Australia one of the most economically vibrant nations in the Asia-Pacific region. | Trade Barriers |
| Australia’s _____________ industries and __________________ are some of the most highly sought after in the region, as are its mining and agricultural exports. Australia’s government strongly protects business and property rights. | Service, Technologies |
| __________________ – reduction of government oversight and/or influence in a given sector of the economy | Deregulation |
| __________________ - a period of economic decline due to lagging trade and/or reduced industrial activity | Recession |
| ____________________ – any activity which slows or outright blocks the free exchange of goods and services between nations | Trade Barrier |
Created by:
cheeseshark18
Popular World History sets