465 Chapter 1 a military economy b permanent war economy c military industrial

465 chapter 1 a military economy b permanent war

This preview shows page 433 - 437 out of 658 pages.

465
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Chapter 1 a. military economy b. permanent war economy c. military-industrial complex d. arms industry Answer: c Page: 438 LO: 5 69. __________ is the social institution that ensures the maintenance of society through the production, distribution, and consumption of goods and services. a. Education b. The economy c. Politics d. The mass media Answer: b Page: 439 LO: 16 70. __________ are tangible objects that are necessary (such as food, clothing, and shelter) or desired (such as DVDs and electric toothbrushes). a. Products b. Materials c. Assets d. Goods Answer: d Page: 439 LO: 16 71. __________ are intangible activities for which people are willing to pay (such as dry cleaning, a movie, or medical care). a. Services b. Goods c. Labor d. Products Answer: a Page: 439 LO: 16 72. Most workers in preindustrial economies (such as hunting and gathering, horticultural and pastoral, and agrarian societies) engage in __________ production, which is the extraction of raw materials and natural resources from the environment. a. secondary sector b. tertiary sector c. primary sector d. quartiary sector Answer: c Page: 439 LO: 6 73. Portions of contemporary sub-Saharan Africa have a relatively high rate of exports in commodities, and foreign direct investment is concentrated in mineral extraction. This is an example of __________ production. a. primary sector b. secondary sector 466
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Chapter 1 c. tertiary sector d. quartiary sector Answer: a Page: 439 LO: 6 74. In industrial economies, __________ refers to the processing of raw materials into finished goods. a. Primary sector production b. Secondary sector production c. Tertiary sector production d. Quartiary sector production Answer: b Page: 439 LO: 6 75. Steel workers who process metal ore and autoworkers who then convert the ore into automobiles, trucks, and buses are engaged in __________ production. a. quartiary sector b. tertiary sector c. secondary sector d. primary sector Answer: c Page: 439 LO: 6 76. A postindustrial economy is based on __________ production, which is the provision of services rather than goods as a primary source of livelihood for workers and profit for owners and corporate shareholders. a. primary sector b. secondary sector c. tertiary sector d. quartiary sector Answer: c Page: 439 LO: 6 77. __________ includes a wide range of activities, such as fast-food service, transportation, communication, education, real estate, advertising, sports, and entertainment. a. Primary sector production b. Secondary sector production c. Tertiary sector production d. Quartiary sector production Answer: c Page: 439 LO: 6 78. __________ is an economic system characterized by private ownership of the means of production, from which personal profits can be derived through market competition and without government intervention. a. Capitalism b. Socialism c. Imperialism 467
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Chapter 1 d. Authoritarianism Answer: a Page: 440 LO: 7 79. Ideal capitalism has four distinctive features. Which of the following is not a feature of ideal capitalism?
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