AnswersW Geography_B_ICGlobal Economic Sectors and Systems

Global Economic Sectors and Systems Answers

0 verified answers2 views
1
Free Preview

Undocumented workers frequently are part of an economy's informal sector.Please select the best answer from the choices provided

A
T
B
F
2
Free Preview

Informal labor is part of every country's economy.Please select the best answer from the choices provided.

A
T
B
F
3

A mixed economy has strong elements of both __________ and __________ economies.

A
planned . . . traditional
B
market . . . planned
C
market . . . traditional
D
planned . . . command
4

Most modern nations have __________ economies.

A
traditional
B
purely free-market
C
government-planned
D
mixed
5

Which of the following scenarios would not be considered part of the informal sector?

A
Jane sells copies of illegally downloaded videos to her friends.
B
Allen, a middle school student, is paid to mow lawns for his neighbors.
C
Miguel pays cash for a stack of children’s books at a yard sale.
D
Erin pays taxes on each paycheck she receives at work.
6

Nations usually specialize in industries where they have a

A
comparative advantage.
B
quaternary sector.
C
secondary sector.
D
primary objective.
7

A comparative advantage is the ability of a country to produce a particular good or service at a lower ____________ than another country.

A
opportunity cost
B
production cost
C
absolute advantage
D
manufacturing advantage Please select the best answers from the choices provided.
8

In a __________ economy, most businesses are privately owned, but the government regulates utilities, builds roads and bridges, and provides public services, such as bus transportation.

A
market
B
planned
C
mixed
D
traditional
9

What does comparative advantage have the most influence on?

A
capital
B
labor
C
resources
D
specialization
10

The US economy is based heavily on __________ sector jobs.

A
primary
B
secondary
C
tertiary
D
quaternary

Did you find these answers helpful?