Unit 3: Economy Sectors Test Prep

What is the main characteristic of the Primary sector of the economy?

Involves manufacturing products of higher value
Involves extracting natural resources from the Earth (correct)
Involves providing services to individuals
Involves receiving, processing and sharing information

What is the advantage of solar energy that makes it a reliable source of energy?

The sun doesn’t run out (correct)
Dependent on the sun
High cost for installation
Environmental impact from manufacturing of solar panels

Which type of energy is environmentally friendly and does not require large space?

Nuclear energy
Geothermal energy (correct)
Hydro energy
Wind energy

What is the main difference between Basic and Non-Basic jobs?

Basic jobs bring in new money to the local economy, while Non-Basic jobs recycle money (B) Signup and view all the answers

What is the main source of energy in Canada?

Hydro (B) Signup and view all the answers

What is the disadvantage of Geothermal energy that is related to the environment?

All of the above (D) Signup and view all the answers

What characterizes a Traditional Society in Rostow's Modernization Theory?

An agricultural based economy with intensive labor (D) Signup and view all the answers

What is the main characteristic of the Take-off stage in Rostow's Modernization Theory?

A short period of intensive growth and industrialization (D) Signup and view all the answers

What is the primary purpose of tariffs?

To protect local economies, jobs, and businesses (A) Signup and view all the answers

What is the last stage in Rostow's Modernization Theory?

Age of High Mass Consumption (D) Signup and view all the answers

What is the opposite of tariffs?

Free trade (B) Signup and view all the answers

What is the result of tariffs according to the text?

Trade wars (A) Signup and view all the answers

Why did the northern cod fishery have to be shut down?

Due to the decline of the fish population (A) Signup and view all the answers

What was the economic impact of the moratorium on the province?

The economy struggled to recover (D) Signup and view all the answers

Why are fishermen and fisheries unions pushing for increased quotas?

Because they want to increase their profits (C) Signup and view all the answers

What is the current state of the northern cod fishery?

It is recreational with some limited commercial fishing allowed (B) Signup and view all the answers

Why is caution necessary in the recovery of the northern cod fishery?

Because the fishery scientists want to avoid repeating the mistakes of the past (C) Signup and view all the answers

What is the road to recovery for the northern cod fishery?

Long and uncertain (B) Signup and view all the answers

What is the main goal of Weber's Least Cost Theory?

To minimize cost by considering resources, production, and markets (D) Signup and view all the answers

What is the term for goods that become lighter after being processed or manufactured?

Bulk reducing goods (A) Signup and view all the answers

What is the significance of Earth Overshoot Day?

It marks the day when humanity's demand for ecological resources exceeds what Earth can regenerate (C) Signup and view all the answers

What is the correct order of the 3R Pyramid?

Reduce, Reuse, Recycle (D) Signup and view all the answers

What is the main factor that determines the location of manufacturing, according to location factors?

Proximity to raw resources (A) Signup and view all the answers

What is the biggest use of water, according to the text?

Toilets (C) Signup and view all the answers

What is the term for natural resources that can be replaced if used responsibly?

Renewable (D) Signup and view all the answers

What is the term for natural resources that are limited and cannot be replaced?

Non-renewable (A) Signup and view all the answers

Which type of natural resource is characterized as constantly being replaced by nature and cannot be damaged by humans?

Solar energy (C) Signup and view all the answers

What is the category for natural resources that do not fit into other categories?

Other (C) Signup and view all the answers

How many multiple-choice questions will be on the test?

18 (C) Signup and view all the answers

What type of question will be used to assess knowledge of Weber's least cost theory?

Diagram Completion (B) Signup and view all the answers