Geography Worksheet - Economic Systems and Chapter 4



Geography Worksheet - Economic Systems and Chapter 4

1. What three questions must be asked of any economic system?

2. Describe a traditional economy. What other name can be used to describe this type of economy?

3. What two other names can be used to describe a market economy? In a market economy who decides questions about production? What “laws” strongly influence their decisions? What is the owner’s major motivating force?

4. Describe a command economy? Give an example of a system that uses a command economy?

5. What is a natural resource? What is meant by renewable and nonrenewable?

6. What is the world’s main energy resource? Where is the location of more than half of the world’s oil and natural gas?

7. What is geothermal energy? Name four other sources or types of energy.

8. Describe subsistence and commercial farming. (p. 116)

9. Describe a primary economic activity. Give examples of some occupations.

10. Describe a secondary economic activity. Give examples of some occupations.

11. Describe a tertiary economic activity. Give examples of some occupations.

12. Describe a quaternary economic activity. Gives examples of some occupations.

13. Define import, export, (quotas, boycott and embargo.) What is a favorable balance of trade?

14. Describe the three possible levels in a country’s development.

15. What is per capita Gross Domestic Product? Give five other characteristics of a developed country.

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