Podcast
Questions and Answers
NAFTA (North American Free Trade Agreement) and OPEC (Organization of Petroleum Exporting Countries) are examples of what?
NAFTA (North American Free Trade Agreement) and OPEC (Organization of Petroleum Exporting Countries) are examples of what?
- Trade Organizations (correct)
- International Treaties
- Military Alliances
- Economic Sanctions
What is the definition of interdependence?
What is the definition of interdependence?
- Countries have political ties and depend on each other for military support
- Countries have strong economic ties and depend on each other for resources, technology, trade, and investment (correct)
- Countries have weak economic ties and do not depend on each other for anything
- Countries have cultural ties and depend on each other for language and customs
What is the definition of globalization?
What is the definition of globalization?
- Development of a worldwide culture with an interdependent economy (correct)
- Development of a worldwide language
- Development of a worldwide religion
- Development of a worldwide political system
What do Buddhists strive to reach?
What do Buddhists strive to reach?
Religious freedom, economic opportunity, land availability, and political freedom are examples of which type of factors?
Religious freedom, economic opportunity, land availability, and political freedom are examples of which type of factors?
What is the definition of cultural diffusion (also called cultural exchange)?
What is the definition of cultural diffusion (also called cultural exchange)?
What is an import?
What is an import?
Which hemispheres is the United States located in?
Which hemispheres is the United States located in?
Which continents does the Equator run through?
Which continents does the Equator run through?
What determines absolute location?
What determines absolute location?
What does physical geography include?
What does physical geography include?
What does the geographic theme of place describe?
What does the geographic theme of place describe?
What does the geographic theme of movement explain?
What does the geographic theme of movement explain?
What does the geographic theme of region refer to?
What does the geographic theme of region refer to?
What does the geographic theme of human-environment interaction describe?
What does the geographic theme of human-environment interaction describe?
What are latitude lines?
What are latitude lines?
Which ocean do cyclones occur in?
Which ocean do cyclones occur in?
What is the definition of population density?
What is the definition of population density?
What do Buddhists strive to reach?
What do Buddhists strive to reach?
What are pull factors?
What are pull factors?
What is cultural diffusion?
What is cultural diffusion?
What is a market economy?
What is a market economy?
What are nonrenewable resources?
What are nonrenewable resources?
What is an import?
What is an import?
What is an export?
What is an export?
Which innovation is best credited with causing the population boom of the American Southwest in the last century?
Which innovation is best credited with causing the population boom of the American Southwest in the last century?
Which hemispheres is the United States located in?
Which hemispheres is the United States located in?
What are the coordinates of Pittsburgh, PA?
What are the coordinates of Pittsburgh, PA?
What determines absolute location?
What determines absolute location?
Define relative location.
Define relative location.
Name the largest ocean.
Name the largest ocean.
Define physical geography.
Define physical geography.
Define the geographic theme of place.
Define the geographic theme of place.
Define the geographic theme of movement.
Define the geographic theme of movement.
Define the geographic theme of region.
Define the geographic theme of region.
Define the geographic theme of human-environment interaction.
Define the geographic theme of human-environment interaction.
Which factors are examples of pull factors?
Which factors are examples of pull factors?
What is the process of spreading ideas, languages, or customs from one culture to another called?
What is the process of spreading ideas, languages, or customs from one culture to another called?
What can be determined using a population pyramid?
What can be determined using a population pyramid?
Which type of religions believe in one god?
Which type of religions believe in one god?
How would you describe a developing nation?
How would you describe a developing nation?
What are the reasons for urbanization?
What are the reasons for urbanization?
How would you define a market economy?
How would you define a market economy?
How would you define a command economy?
How would you define a command economy?
What are nonrenewable resources?
What are nonrenewable resources?
What are renewable resources?
What are renewable resources?
Which factors are examples of pull factors?
Which factors are examples of pull factors?
What is the process of spreading ideas, languages, or customs from one culture to another called?
What is the process of spreading ideas, languages, or customs from one culture to another called?
What can be determined using a population pyramid?
What can be determined using a population pyramid?
Which type of religions believe in one god?
Which type of religions believe in one god?
What is a developing nation?
What is a developing nation?
What are nonrenewable resources?
What are nonrenewable resources?
What is an import?
What is an import?
What is an export?
What is an export?
Which innovation is best credited with causing the population boom of the American Southwest in the last century?
Which innovation is best credited with causing the population boom of the American Southwest in the last century?
Define indigenous.
Define indigenous.
Which branch of economic theory deals with the economy as a whole and decision making by large units such as governments?
Which branch of economic theory deals with the economy as a whole and decision making by large units such as governments?
What is the term for the production and distribution of goods and services in a society?
What is the term for the production and distribution of goods and services in a society?
What is a theory or simplified representation that helps explain and predict economic behavior in the real world called?
What is a theory or simplified representation that helps explain and predict economic behavior in the real world called?
What is the term for an assumption involving two or more variables that must be tested for validity?
What is the term for an assumption involving two or more variables that must be tested for validity?
What is the term for the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period?
What is the term for the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period?
What is the term for the amount of a good or service that producers are able and willing to sell at various prices during a specified time period?
What is the term for the amount of a good or service that producers are able and willing to sell at various prices during a specified time period?
What is the term for the process of freely exchanging goods and services between buyers and sellers?
What is the term for the process of freely exchanging goods and services between buyers and sellers?
What is the term for a transaction in which a buyer and a seller exercise their economic freedom by working out their own terms of exchange?
What is the term for a transaction in which a buyer and a seller exercise their economic freedom by working out their own terms of exchange?
What is the economic rule that states as price goes up, quantity demanded goes down; as price goes down, quantity demanded goes up?
What is the economic rule that states as price goes up, quantity demanded goes down; as price goes down, quantity demanded goes up?
What is the term for the amount of a good or service that a consumer is willing and able to purchase at a specific price?
What is the term for the amount of a good or service that a consumer is willing and able to purchase at a specific price?
Which term refers to the illegal market in which goods are traded at prices above their legal maximum prices?
Which term refers to the illegal market in which goods are traded at prices above their legal maximum prices?
What is the legal minimum price below which a good or service may not be sold?
What is the legal minimum price below which a good or service may not be sold?
What is the total dollar value of all final goods and services produced in a nation in a single year?
What is the total dollar value of all final goods and services produced in a nation in a single year?
Which sector includes goods and services bought by consumers for their direct use?
Which sector includes goods and services bought by consumers for their direct use?
What is the difference between what a nation sells to other countries and what it buys from other countries?
What is the difference between what a nation sells to other countries and what it buys from other countries?
What is the value of the nation's total output (GDP) minus the total value lost through depreciation on equipment?
What is the value of the nation's total output (GDP) minus the total value lost through depreciation on equipment?
What is the total income earned by everyone in the economy?
What is the total income earned by everyone in the economy?
What is the total income that individuals receive before personal taxes are paid?
What is the total income that individuals receive before personal taxes are paid?
What are welfare and other supplementary payments that a state or the federal government makes to individuals called?
What are welfare and other supplementary payments that a state or the federal government makes to individuals called?
What is the income remaining for people to spend or save after all taxes have been paid?
What is the income remaining for people to spend or save after all taxes have been paid?
Which branch of economic theory deals with behavior and decision making by small units such as individuals and firms?
Which branch of economic theory deals with behavior and decision making by small units such as individuals and firms?
What is the term used to describe the condition of not being able to have all of the goods and services one wants, because wants exceed what can be made from all available resources at any given time?
What is the term used to describe the condition of not being able to have all of the goods and services one wants, because wants exceed what can be made from all available resources at any given time?
What are the resources of land, labor, and entrepreneurship used to produce goods and services called?
What are the resources of land, labor, and entrepreneurship used to produce goods and services called?
What is the term used to describe the value of the next best alternative given up for the alternative that was chosen?
What is the term used to describe the value of the next best alternative given up for the alternative that was chosen?
What is the term used to describe sacrificing one good or service to purchase or produce another?
What is the term used to describe sacrificing one good or service to purchase or produce another?
What is the term used to describe the graph showing the maximum combinations of goods and services that can be produced from a fixed amount of resources in a given period of time?
What is the term used to describe the graph showing the maximum combinations of goods and services that can be produced from a fixed amount of resources in a given period of time?
What is the term used to describe the amount of output (goods and services) that results from a given level of inputs (land, labor, capital, entrepreneurship)?
What is the term used to describe the amount of output (goods and services) that results from a given level of inputs (land, labor, capital, entrepreneurship)?
What is the term used to describe the ability of risk-taking individuals to develop new products and start new businesses in order to make profits?
What is the term used to describe the ability of risk-taking individuals to develop new products and start new businesses in order to make profits?
What is the term used to describe the advance in knowledge leading to new and improved goods and services and better ways of producing them?
What is the term used to describe the advance in knowledge leading to new and improved goods and services and better ways of producing them?
What are tangible objects that can satisfy people's wants or needs called?
What are tangible objects that can satisfy people's wants or needs called?
Which term refers to the resources of land, labor, and entrepreneurship used to produce goods and services?
Which term refers to the resources of land, labor, and entrepreneurship used to produce goods and services?
What is the term used to describe the amount of output (goods and services) that results from a given level of inputs (land, labor, capital, entrepreneurship)?
What is the term used to describe the amount of output (goods and services) that results from a given level of inputs (land, labor, capital, entrepreneurship)?
What is the term used to describe the ability of risk-taking individuals to develop new products and start new businesses in order to make profits?
What is the term used to describe the ability of risk-taking individuals to develop new products and start new businesses in order to make profits?
What is the term used to describe tangible objects that can satisfy people's wants or needs?
What is the term used to describe tangible objects that can satisfy people's wants or needs?
What is the term used to describe actions that can satisfy people's wants or needs?
What is the term used to describe actions that can satisfy people's wants or needs?
What is the term used to describe the value of the next best alternative given up for the alternative that was chosen?
What is the term used to describe the value of the next best alternative given up for the alternative that was chosen?
What is the term used to describe the graph showing the maximum combinations of goods and services that can be produced from a fixed amount of resources in a given period of time?
What is the term used to describe the graph showing the maximum combinations of goods and services that can be produced from a fixed amount of resources in a given period of time?
Which branch of economic theory deals with behavior and decision making by small units such as individuals and firms?
Which branch of economic theory deals with behavior and decision making by small units such as individuals and firms?
What is the term used to describe the process of spreading ideas, languages, or customs from one culture to another?
What is the term used to describe the process of spreading ideas, languages, or customs from one culture to another?
What is the term used to describe the branch of economic theory that deals with the economy as a whole and decision making by large units such as governments?
What is the term used to describe the branch of economic theory that deals with the economy as a whole and decision making by large units such as governments?
Which term refers to the illegal market in which goods are traded at prices above their legal maximum prices or in which illegal goods are sold?
Which term refers to the illegal market in which goods are traded at prices above their legal maximum prices or in which illegal goods are sold?
What is the term for a legal minimum price below which a good or service may not be sold?
What is the term for a legal minimum price below which a good or service may not be sold?
What is the total dollar value of all final goods and services produced in a nation in a single year?
What is the total dollar value of all final goods and services produced in a nation in a single year?
Which sector includes goods and services bought by consumers for their direct use?
Which sector includes goods and services bought by consumers for their direct use?
What is the value of the nation's total output (GDP) minus the total value lost through depreciation on equipment?
What is the value of the nation's total output (GDP) minus the total value lost through depreciation on equipment?
What is the total income earned by everyone in the economy?
What is the total income earned by everyone in the economy?
What is the income remaining for people to spend or save after all taxes have been paid?
What is the income remaining for people to spend or save after all taxes have been paid?
What is the term for a prolonged rise in the general price level of goods and services?
What is the term for a prolonged rise in the general price level of goods and services?
What is the measure of the change in price over time of a specific group of goods and services used by the average household?
What is the measure of the change in price over time of a specific group of goods and services used by the average household?
What is the measure of the change in price over time that the United States producers charge for their goods and services?
What is the measure of the change in price over time that the United States producers charge for their goods and services?
Which branch of economic theory deals with the economy as a whole and decision making by large units such as governments?
Which branch of economic theory deals with the economy as a whole and decision making by large units such as governments?
What is the term for the production and distribution of goods and services in a society?
What is the term for the production and distribution of goods and services in a society?
What is a theory or simplified representation that helps explain and predict economic behavior in the real world called?
What is a theory or simplified representation that helps explain and predict economic behavior in the real world called?
What is the term for the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period?
What is the term for the amount of a good or service that consumers are able and willing to buy at various possible prices during a specified time period?
What is the term for the amount of a good or service that producers are able and willing to sell at various prices during a specified time period?
What is the term for the amount of a good or service that producers are able and willing to sell at various prices during a specified time period?
What is the process of freely exchanging goods and services between buyers and sellers called?
What is the process of freely exchanging goods and services between buyers and sellers called?
What is the economic rule that states as price goes up, quantity demanded goes down; as price goes down, quantity demanded goes up?
What is the economic rule that states as price goes up, quantity demanded goes down; as price goes down, quantity demanded goes up?
What is the term for the additional amount of satisfaction a consumer gets from purchasing one more unit of a product?
What is the term for the additional amount of satisfaction a consumer gets from purchasing one more unit of a product?
What is the rule stating that the additional satisfaction a consumer gets from purchasing one more unit of a product will lessen with each additional unit purchased?
What is the rule stating that the additional satisfaction a consumer gets from purchasing one more unit of a product will lessen with each additional unit purchased?
What are the determinants of demand?
What are the determinants of demand?