Global Studies

Question 1

Economics

Answer 1

Stock markets because you invest money

Question 2

Interdependence

Answer 2

South America and Africa bringing Cacao beans to manufacturing plants

Question 3

Opportunity cost

Answer 3

You spend time and money going to a movie, you can’t spend that time at home reading a book

Question 4

Scarcity

Answer 4

The Aral Sea is losing water, leading it to shrink

Question 5

Market

Answer 5

Target is a market, you can purchase items

Question 6

Natual resources

Answer 6

Animals

Question 7

Capital resources

Answer 7

Machines and tools

Question 8

Human resources

Answer 8

Plummer

Question 9

Productive resources

Answer 9

Human resources

Question 10

Productivity

Answer 10

Quotas

Question 11

Supply and Demand

Answer 11

Supply is up, demand is down price goes down, Supply is down, demand is up, price will go up

Question 12

Specialization

Answer 12

A math teacher because they are a teacher that teaches a specific subject

Question 13

What determines the price of a product?

Answer 13

Supply and demand

Question 14

How does competition affect the prices of products?

Answer 14

They can be cheaper and better, so people buy. But vice versa will not work, because it is more expensive and worse

Question 15

What types of regulations does the government place on companies?

Answer 15

Standards that should be met, such as food should be gone bad and make sure that most people should afford it

Question 16

What is a global supply chain?

Answer 16

The supply chain are the stopd the product goes through where it was manufactured or grown to the price where it is sold

Question 17

Explain the difference between small businesses and corporations

Answer 17

Most small businesses are locally sourced and have fewer stores. Corporations have more stores and plants and are not locally sourced

Question 18

What is the market cycle?

Answer 18

One product being made then traded with another good or service and so on

Question 19

How are productivity and innovations connected?

Answer 19

Innovation drives productivity and productivity drives good results

Question 20

What does the government regulate?

Answer 20

To stop corrupt debilitating profits

Question 21

What is the difference between the federal deficit and federal debt?

Answer 21

Deficit is the money owed from one year and debt is the money from all the years

Question 22

What leads to recession?

Answer 22

Loss i consumer confidence, high interest rates, a stock market crash, and asset bubbles bursting

Question 23

Why do companies issue stocks?

Answer 23

To help raise money for the company

Question 24

What does a stock represent?

Answer 24

Taking a share of the company

Question 25

What determines the price of a stock in the market

Answer 25

SUPPLY AND DEMAND

Question 26

What are two arguments for raising the minimum wage?

Answer 26

1) It helps pay bills 2) It helps teens to be able to not take out loans

Question 27

What are two arguments for raising the minimum wage?

Answer 27

1) The minimum wage has already been raised 22 times 2) It's too costly for companies

Question 28

Examples of socialism

Answer 28

Sweden, Norway

Question 29

Examples of communism

Answer 29

The soviet union, North Korea

Question 30

What are the benefits of globalization?

Answer 30

Countries like China is out of poverty

Question 31

What are the downfalls of globalization?

Answer 31

International trading is now the overconsumption of natural resources

Question 32

Traditional

Answer 32

There is less variety and it is centered around certain ethnics, tribes, etc. Choices are determined by the enviorment

Question 33

Command

Answer 33

Closer to a dictatorship. Individuals have little say in economic decisions as well is no competition. There is a certain way to do things

Question 34

Market

Answer 34

This is more lenient. There is no government which means you can sell anything. There is a lot of competition. There is a lot of variety.

Question 35

Mixed

Answer 35

This combines elements from market and command. Individuals have a share in economic decisions. There is a government that regulates things

Question 36

Traditional economy

Answer 36

Good Bad 1) High quality 1) Not a lot of variety 2) Locally sources 2) No technology

Question 37

Command economy

Answer 37

Good Bad 1) everything is equal 1) Too much control 2) Government sets price 2) No Variety

Question 38

Market economy

Answer 38

Good Bad 1) More profit 1) too much competition 2) Independent 2) No regulations

Question 39

Mixed economy

Answer 39

Good Bad 1) More variety 1) Constant argument on setting regulations 2) Good rules from all systems 2) Taxes