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Chapter 1a.military economyb.permanent war economyc.military-industrial complexd.arms industryAnswer: cPage: 438LO: 569.__________ is the social institution that ensures the maintenance of society through the production, distribution, and consumption of goods and services.a.Educationb.The economyc.Politicsd.The mass mediaAnswer: bPage: 439LO: 1670.__________ are tangible objects that are necessary (such as food, clothing, and shelter) or desired (such as DVDs and electric toothbrushes).a.Productsb.Materialsc.Assetsd.GoodsAnswer: dPage: 439LO: 1671.__________ are intangible activities for which people are willing to pay (such as dry cleaning, a movie, or medical care).a.Servicesb.Goodsc.Labord.ProductsAnswer: aPage: 439LO: 1672.Most workers in preindustrial economies (such as hunting and gathering, horticultural andpastoral, and agrarian societies) engage in __________ production, which is the extraction of raw materials and natural resources from the environment.a.secondary sectorb.tertiary sectorc.primary sectord.quartiary sectorAnswer: cPage: 439LO: 673.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 sectorb.secondary sector466
Chapter 1c.tertiary sectord.quartiary sectorAnswer: aPage: 439LO: 674.In industrial economies, __________ refers to the processing of raw materials into finishedgoods.a.Primary sector productionb.Secondary sector productionc.Tertiary sector productiond.Quartiary sector productionAnswer: bPage: 439LO: 675.Steel workers who process metal ore and autoworkers who then convert the ore into automobiles, trucks, and buses are engaged in __________ production.a.quartiary sectorb.tertiary sectorc.secondary sectord.primary sectorAnswer: cPage: 439LO: 676.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 sectorAnswer: cPage: 439LO: 677.__________ includes a wide range of activities, such as fast-food service, transportation, communication, education, real estate, advertising, sports, and entertainment.a.Primary sector productionb.Secondary sector productionc.Tertiary sector productiond.Quartiary sector productionAnswer: cPage: 439LO: 678.__________ 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.Capitalismb.Socialismc.Imperialism467
Chapter 1d.AuthoritarianismAnswer: aPage: 440LO: 779. Ideal capitalism has four distinctive features. Which of the following is nota feature ofideal capitalism?