Modern Economic Systems Chapter Exam

Exam Instructions:

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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Question 1 1. Which of the following would most likely be distributed by a material distribution center?

Question 2 2. Which sector of the economy provides the goods and services to businesses and consumers?

Question 3 3. Which of the following statements about a local distribution company is TRUE?

Question 4 4. Mark used to work at a large home goods factory. Now he knits and sews quilts at home, and he also sells them there. What kind of business has Mark started?

Question 5 5. What is the minimum market area needed for goods and services to be economically feasible?

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Question 6 6. Which sector of the economy takes raw materials from the primary sector and manufactures them into goods?

Question 7 7. What do we call businesses or manufacturing systems operating in a person's home?

Question 8 8. Infrastructure includes all of the following, EXCEPT:

Question 9 9. Which term describes a large-scale departure of financial assets and capital from a nation due to political or economic reasons?

Question 10 10. Why was the spinning jenny so important to the textile industry?

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Question 11 11. Which sector of the economy removes or harvests products directly from the earth in order to extract raw materials or food?

Question 12 12. Yellow Giant is a large producer of corn that owns all of its own farms and sells products to grocery chains to be packaged in cans or frozen and sold to consumers. Yellow Giant is considered a/an _____.

Question 13 13. Which term denotes characteristics of a city or town?

Question 14 14. What do we call businesses or manufacturing systems operating in a person's home?

Question 15 15. What do we call populations shifting from rural, agricultural areas to cities?

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Question 16 16. Greg works at a guitar shop, where his job is to repair guitars. Would this be considered a service? Why or why not?

Question 17 17. The secondary sector is the second step on the path from earth to the consumer; all of the following are examples of the secondary sector except

Question 18 18. How did cash crops and agribusinesses affect rural areas?

Question 19 19. Which of the following statements about the Industrial Revolution is FALSE?

Question 20 20. What do we call the assigning of different parts of a manufacturing procedure or tasks to different people in order to improve efficiency and productivity?

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Question 21 21. Which of the following statements about the Industrial Revolution is FALSE?

Question 22 22. Who created the central place theory?

Question 23 23. The Industrial Revolution is usually linked to which centuries?

Question 24 24. Which of the following places would be considered 'urban'?

Question 25 25. Which of these countries was the birthplace of the Industrial Revolution?

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Question 26 26. Which of the following terms describes industries being situated near the raw materials needed to produce their products?

Question 27 27. What do we call a legal economic entity involved in the supply of utilities to consumers within a specific area?

Question 28 28. Why is the central place theory helpful?

Question 29 29. At Fielding Industries, Gerald is in charge of decisions related to the company's employees. Which of the following terms BEST describes Gerald's responsibilities?

Question 30 30. What do we call the furthest distance consumers will travel to purchase goods or obtain services?

Modern Economic Systems Chapter Exam Instructions

Choose your answers to the questions and click 'Next' to see the next set of questions. You can skip questions if you would like and come back to them later with the yellow "Go To First Skipped Question" button. When you have completed the practice exam, a green submit button will appear. Click it to see your results. Good luck!

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