final exam

Question 1

After the_________________ mass production of goods and services increased due to_____________ that helped speed the production to meet the demands.

Answer 1

Industrial Revolutions, technological inventions

Question 2

________________ is the increase in the production of goods and services that people produce over a period of time, usually one year.

Answer 2

Economic Growth

Question 2

The invention of___________________ increased the books’ production and it is considered one example of economic growth.

Answer 2

Gutenberg’s printing press

Question 3

When the________________ producers benefit from an increase in their profit margin, ________________, as consumers, they can buy more, even the standard of living increases

Answer 3

production increases,more employees have higher incomes

Question 4

One main indicator used around the world is the___________

Answer 4

Gross Domestic Product, GDP.

Question 5

GDP=_________

Answer 5

C + I + G + NX

Question 6

_________ is the total value of goods and services produced in a country during a given period of time.

Answer 6

GDP

Question 7

GDP:( C+I+G+NX) =________________________

Answer 7

Consumption+ investment + Government Spending+ Net Export.

Question 8

An _____________ which reflects _________, has many benefits: ________________________

Answer 8

increased GDP,an economic growth,higher incomes, lower unemployment, improved public services, investment, and less poverty.

Question 9

_________ represents all consumers’ spending

Answer 9

Consumption

Question 10

___________refers to all business’ investment spending’s in a country.

Answer 10

Investment

Question 11

________ represents spending on goods and services by the government

Answer 11

Government Spending

Question 12

According to the World Bank reports, _________ has been declared as the strongest country economically.

Answer 12

Saudi Arabia

Question 13

When the ________moves ______, the _________ is the first to be affected by such ______

Answer 13

GDP indicator, downward,stock market,a decrease

Question 14

__________ is a public market where companies trade their stocks at agreed prices.

Answer 14

A stock market

Question 15

________usually represents the initial amount of money which is paid or invested in a company

Answer 15

A company’s stock

Question 16

_______ is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP.

Answer 16

Recession

Question 17

If a country is overpopulated, unemployment rates will _____

Answer 17

increase.

Question 18

The GDP does__________ products.

Answer 18

not include imported

Question 19

________ represents the country’s exports ____ its imports

Answer 19

Net Exports, minus

Question 20

________ indicates how successful a country is at increasing its wealth.

Answer 20

Economic growth

Question 21

___________influence a country’s economic growth: ______________

Answer 21

Five main factors,natural resources, physical capital, human capital, technological development, and entrepreneurship.

Question 22

__________ refers to the skill and Knowledge of a population performing a job.

Answer 22

Human Capital

Question 23

when workers are well- educated and trained to have the proper skills , they can be_____________ .

Answer 23

more productive in less time

Question 24

________refers to man-made means of production such as factories, machineries, means of transport and communication, electricity, technology, and social facilities.

Answer 24

Physical capital

Question 25

______is one of the largest ports in the world. It is considered important station for trading ships.

Answer 25

singapore

Question 26

______ and the ______ have few natural resources, they are rich with _____ which is a key factor in their economies that generates a great income to these countries.

Answer 26

Saudi Arabia, UAE,oil

Question 27

_________ are vital for the growth of an economy since they provide the ________and ______ for factories, vehicles, and industrial and domestic machineries.

Answer 27

Natural Resources,raw materials

Question 28

Other factors that can affect economic growth include ___________

Answer 28

politics, overpopulation, and culture.

Question 29

________is another factor that has recently affected economic growth.

Answer 29

Entrepreneurship

Question 30

The use of computers, robots, and other types of machinery allows ___________much faster than before_________.

Answer 30

companies to manufacture products, the use of technology

Question 31

__________ has been an important factor in economic growth sine the industrial Revolution

Answer 31

Technology

Question 32

Countries which invest in ___________to provide better facilities, resources, and materials for the people who perform different jobs.

Answer 32

Physical Capital have the ability

Question 33

_________ is the ability of machines and computers to perform tasks similar to human intelligence

Answer 33

Artificial Intelligence

Question 34

______ is one of the most important accounting firms worldwide that uses AI to improve the ________

Answer 34

PWC,Middle East, GDP.

Question 35

The electricity in China is ______than anywhere else.

Answer 35

cheaper

Question 36

A lot of economic firms believe that __ will be important factors in future ______

Answer 36

AI,economic growth.

Question 37

In recent years, ___________ has become a growing part of everyday life including the economy.

Answer 37

Artificial Intelligence

Question 38

_________is a Saudi Company for Artificial intelligence launched operations to promote innovation in strategic sectors through AI.

Answer 38

SCAI