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Chapter 3
Chapter 3-Erosion & Economics
| Question | Answer |
|---|---|
| How people manage material resources in a community or other organized body (single household, city, state, nation, or the globe) | economics |
| The condition that exists when people and societies try to satisfy unlimited wants with limited resources | scarcity |
| The idea that colonies existed to contribute to the wealth and power of the mother nation | mercantilism |
| When a person, state, or country focuses on one particular job, skill, or product that they are good at | specialization |
| The slow process of land sinking into the sea | subsidence |
| Something useful to humans that comes from Earth or nature | natural resource |
| The person who produces goods or services | human resource |
| A tool used in the production of goods and services | capital resource |
| An economy that depends on agriculture and bartering, in which economic decisions are often based on customs, beliefs, or habits | traditional economy |
| An economy in which the government directs the economic system and tries to control how producers answer the four basic economic questions | command economy |
| An economy in which economic decisions are made at an individual, not a government, level, with the four basic economic questions answered by producers | market economy |
| The wearing away of land by wind or water | erosion |
| A relationship where each person/country is dependent on the other for necessary goods or services | economic interdependence |
| An economy that has multiple industries that contribute to the income of the state/nation | diversified economy |
| A tax placed on a good imported into the U.S. to protect a U.S. producer from the cheaper goods | tariff |
| Louisiana’s first French settlers eagerly traded with nearby groups of Indians for food and other items of value...What type of economic system is described? | traditional economy |
| What conclusion can be drawn from the table showing the 1721 trade agreement between the natives and Europeans. Why were the Natives willing to give 4 deerskins for a meter of woolen cloth? | The Native did not have access to woolen cloth. |
| Which crop is grown primarily in the northeastern part of Louisiana? | cotton |
| Which region supports the majority of Louisiana’s rice production? | marsh |
| What conclusion could be drawn about this 2002 tax incentive? | Thousands of jobs will be created and goods and service industries will benefit from the influx of people and income. |
| Which was a direct result of the 2002 tax incentives for film production? | The film industry in Louisiana grew rapidly, and the state has become known as “Hollywood South.” |
| Which is an example of goods? | a new wardrobe (clothes) |
| Which is an example of a service? | concert |
| What is an example of a natural resource? | cypress trees |
| What is an example of a capital resources? | lumber factory |
| Which is an example of a human resource? | chef |
| What was Jillian’s opportunity cost? | sweater |
| What was Jillian’s opportunity benefit? | jeans |
| Which explains how supply affects prices? | When the supply of something is high, the prices for it are low. |
| Which explains how prices affect demand? | As prices rise, demand usually goes down. |
| How did the Mississippi River contribute to the development of Louisiana’s market economy in the 1800s? | Producers and consumers from other states used the river to reach the port at New Orleans. |
| Which brought great prosperity and economic change to Louisiana in the early 1900s and is our most profitable natural resource today? | the discovery of oil |
| How did the early practice of clear-cutting affect Louisiana’s biological resources? | animal populations decreased |
| Which is an example of how Louisiana’s many waterways have contributed to the state’s economic development? | Commercial fishing in Louisiana accounts for 25% of the commercial catch in the United States. |
| How do tariffs protect producers in the United States? | They make imported goods more expensive for consumers. |
| Which is an example of inflation? | a steady rise in the price of gas |
| Which 2 of Louisiana’s fishing areas would most likely be affected by storm surges created by hurricanes? | areas closest to the Gulf Coast and low-lying areas near large water sources |
| Which statement explains how the demand for seafood products most likely affects the commercial fishing industry in Louisiana? | When demand is high, more jobs in the industry become available. |
| Which statement best explains how excessive rain can negatively affect the fishing industry in Louisiana? | Excessive rain increases the pollution of fish habitats. |
| Which two phrases show two correct causes of natural phenomenon on the decline of the fishing industry in Louisiana. | droughts and hurricanes damaging breeding grounds |
| Which two phrases show two correct effects of natural phenomenon on the decline of the fishing industry in Louisiana. | fishing profits decrease and unemployment increases in the fishing industry |
| Which statement best explains the importance of Louisiana’s exports to international trade? | Louisiana exports valuable natural resources and raw materials to other nations. |
| Which statement best describes a feature of the cotton industry in the economic development of Louisiana? | Demand has had a large impact on the amount of cotton production in Louisiana. |
| Which statement best explains the relationship between specialization and the seafood industry in Louisiana? | Producers are able to focus on high-quality seafood to compete with imports. |
| The federal government enacted the Coastal Wetlands Planning, Protection, and Restoration Act designed to protect the wetlands in Louisiana. Which of the following 3 are ways humans have contributed to coastal erosion of the wetlands? | Digging canals and building levees Introducing invasive species like hogs and nutria Dangerous oil spills off the coast |
| In addition to erosion, pollution is also a problem for Louisiana wetlands. In 2010, what oil rig explosion lead to the largest and most damaging oil spill in U.S. history? | Deepwater Horizon |
| What conclusion can be drawn from the information in the chart on Louisiana's Coastal Wetlands from 1900-2010? | Coastal wetlands have been greatly diminished by human intervention. |
| Which 4 are examples of damages caused by Hurricanes in Louisiana? | Loss of wetlands and fields/cattle pastures Millions of acres of forests and pastures destroyed Loss of natural resources Loss of lives/homes |
| Louisiana is home to about 40% of the _____________ in the United States which includes swamps, marshes, and other areas that are soaked with water part of the year. | wetlands |
| Which are 4 reasons why the wetlands are so important? | Wetlands house the oil and gas infrastructure Wetlands are vital to transportation & navigation of ships and cargo Wetlands serve as habitats to wildlife & fish Wetlands act as storm buffers and flood protection |
| Which 2 are economic consequences LA could face if coastal erosion is not controlled? | As the sea level rises we could lose our seafood industry and oil infrastructure Coastal erosion could cause the shipping ports to not be protected during storm season |
| LA provides 90% of the alligator hides used in European rawhide market. The illustration depicts the marketing of alligator hides. Over 200,000 hides are shipped annually to foreign markets to be processed into goods. What does this illustrate? | economic interdependence |
| Which 4 are KEY INDUSTRIES in LA that contribute to a diversified economy? | Forestry Manufacturing & Shipping Oil & Gas Agribusiness (Agriculture) & Seafood |
| What 3 countries are a part of NAFTA and removed all tariffs off goods transported between the three countries? | US, Canada, Mexico |
| Why is it important that Louisiana has a diversified economy? 2 reasons | Multiple industries to fall back on if one fails. They provided more jobs which provide more money. |
Created by:
LOJH LA History