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Final Exam Review
Test Description: 2014 Spring
Instructions: Answer all questions to get your test result.
1) The number limit on how many items of a particular product can be imported from a particular country is ___.
A
quota
B
embargo
C
tariff
D
import
2) The economic system of communist countries is most closely related to which of the following:
A
command system
B
capitalism
C
market system
D
traditional system
3) Which is an example of human capital?
A
roads
B
machinery
C
factories
D
education
4) NAFTA is an example of which pattern of behavior between countries?
A
establishing trade quotas
B
imposing trade tarrifs
C
putting trade embargos
D
forming trade agreements
5) Most democratic nations have what type of economy?
A
market
B
command
C
mixed
D
traditional
6) Which is a lack of particular resource?
A
demand
B
scarcity
C
supply
D
surplus
7) Which of the following would reflect a country with a mixed economy?
A
A combination of privately-owned industry and government control.
B
Prices and wages are solely regulated by a country’s government.
C
Bartering between cities is a common practice.
D
A country’s distribution of resources is based on inheritance
8) What type of government is ruled by a few people?
A
democracy
B
oligarchy
C
dictatorship
D
autocracy
9) Which is NOT an economic trade barrier
A
quota
B
embargo
C
tariff
D
mountain
10) You live in a large country that has many states. The government’s power is divided between a central /national government and the state/local governments. Which term best describes the type of government system you have?
A
communist
B
oligarchy
C
unitary
D
federal
11) Communism is based on the teachings of
A
Karl Marx
B
Plato
C
John Locke
D
Adolf Hitler
12) Panama is a
A
isthmus
B
peninsula
C
tributary
D
canal
13) Most Latin American cultures are a mix of European and _________ cultures
A
Asian
B
Native American
C
Australian
D
Canadian
14) Aborigines share stories of creation. They call this time the
A
Spirit Time
B
Holy Time
C
Dreamitme
D
Uluru
15) Subsistence farmers rely on bartering goods in Mexico. What is this economic system called?
A
mixed
B
traditional
C
command
D
free market
16) Brazil is investing in education. This is an example of
A
capital goods
B
products
C
human capital
D
specialization
17) Miguel Hidalgo was known as the father of independence of
A
Mexico
B
Peru
C
Bolivia
D
Cuba
18) What did Toussaint L'ouverture want to achieve?
A
freedom for slaves
B
a meeting with the French government in France to work on better working conditions
C
improved production of sugar cane plantations
D
control of the French, Spanish and British armies
19) What is a mixture of Native American and European decent?
A
Caucasian
B
Spanish
C
Native American
D
Mestizo
20) Where did Aborigines originate from?
A
Asia
B
North America
C
New Zealand
D
Europe
*select an answer for all questions
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