1. Daily Oral Social Studies 2 nd Nine Weeks

2. Which country had problems with acid rain? A. Germany B. United Kingdom C. Ukraine A

3. Which country had problems with a nuclear disaster in Chernobyl? A. Germany B. United Kingdom C. Ukraine B

4. Which country had problems with air pollution? A. Germany B. United Kingdom C. Ukraine C

5. __________________ is the limited supply of something. a) tariff b) scarcity c) economy d) command 1

6. What does an economic system do? a) determines who gets the most money b) determines how to use limited resources c) determines what the money should look like d) determines what color the money should be 2

7. Which of the following is NOT a question that should be answered when determining an economic system? a) What goods and services will be produced b) How will goods and services be produced c) Who will consume the goods and services d) Where will the goods and services 3

8. In a _______________ economy, the customs and habits of the past are used to decide what and how goods will be produced, distributed, and consumed. a) traditional b) command c) market 4

9. In a centralized ________________ economy, government planning groups make the basic economic decisions. a) traditional b) command c) market 5

10. In a decentralized _____________ economy, decisions are guided by changes in prices that occur between individual buyers and sellers in the marketplace. a) traditional b) command c) market 6

11. There are no examples of ______________ economy in Europe. a) traditional b) command c) market 7

12. Although the new Russian Federation has adopted a more _________ economy, the former Soviet Union was an example of a __________ economy. a) mixed; command b) market; mixed c) free; traditional 8

13. Other names for market systems are all of the following except:market systems a) Enterprise b) capitalism c) laissez-faire d) command 9

14. Most of Europe operates in a _______________ economy a) traditional b) command c) market 10

15. Command economy a) Russia b) Germany c) UK 11

16. Market Economy a) USA b) Cuba c) Russia 12

17. Which of the following European countries has the least restrictive economic system? a) USA b) Germany c) United Kingdom 13

18. Which of the following European countries has the most restrictive economic system? a) USA b) Cuba c) Russia 14

19. a) factories b) education c) cash 15 Which is an example of investing in human capital?

20. True or False (All economies are mixed.) a) True b) False 16

21. In the United Kingdom, who decides which goods will be produced and sold? a) citizens b) the prime minister c) the monarch 17

22. In which country would it be most difficult to start a business? a) USA b) Germany c) Russia 18

23. Which type of trade barrier involves a limit on goods brought into a country? a) tariff b) quota c) embargo 19

24. A tax on imports is called a(n) _______ a) embargo b) quota c) tariff 20

25. A government order to stop trading with another country is called a(n) ________. a) tariff b) embargo c) quota 21

26. Define entrepreneur 22

27. Define human capital 23

28. Define literacy rate 24

29. Define physical capital 25

30. Define Gross Domestic Product (GDP) 26

31. Define natural resources 27

32. Define entrepreneur A person who provides the money to start and own a business 22

33. Define human capital The education and skills that people have to produce goods and services 23

34. Define literacy rate The rate of people who can read and write who are over the age of 15 24

35. Define physical capital Machines and equipment that people need to produce goods and services 25

36. Define Gross Domestic Product (GDP) Total value of all the goods and services produced in a country in one year 26

37. Define natural resources “gifts of nature” include forests, soil, and water 27