Eco. Unit 1 Quiz 2 – Flashcards
Unlock all answers in this set
Unlock answersquestion
Swiss chocolates and Japanese electronics are shipped into harbors around our country every week. We call these products brought in from other countries. __
answer
Imports
question
A tax on imported goods
answer
Tariff
question
affluence or superabundance
answer
Prosperity
question
strategy used to entice the consumer to make a purchase
answer
Sales tactic
question
adding up the value of all of a nation's goods and services in a given year
answer
Gross National Product
question
When American cars sales were suffering due to _____ imports, the government instituted an exchange rate.
answer
Japanese
question
Both K-Mart® and Wal-Mart® businesses battle for the consumer's purchasing choices. They are engaged in a healthy _______
answer
Competition
question
South African diamond mining companies use some of the diamonds they mine in their drill bits. The diamonds that are used for that purpose are known as _____
answer
Capital Goods
question
The strength of the dollar against foreign currencies is known as the:
answer
Exchange Rate
question
Saudi Arabia enjoys wealth from its vast oil fields. This country is still enjoying great _________
answer
Prosperity
question
organized fellowships of workers with similar work experience or talents
answer
Unions
question
a workplace where only union members may be hired
answer
Closed Shop
question
to encircle a plant or confront a plant entrance with unionists carrying signs or placards expressing their concerns
answer
Picket
question
laws which regulate or curtail business monopolies or dominant financial organizations
answer
Anti-Trust laws
question
an organized work stoppage and walkout
answer
Strike
question
A member of a feudal class in Europe which was owned by the heads of the estates where they worked
answer
Serfs
question
Cities such as Venice and Genoa that became hubs of economic activity in Europe were known as
answer
Trading Centers
question
During medieval times, the Western countries were largely composed of manorial
answer
Estates
question
______ designed the first all-iron bridge constructed in England and his factory cast the iron for it.
answer
Wilkinson
question
The CIO, or Congress of Industrial Organization, was started in ____
answer
1936
question
Burghers
answer
townspeople of the Middle Ages.
question
Lands owned by a nobleman or lord for whom the serfs labored and to whom they owed their allegiance.
answer
memorial estates
question
the regional collection of markets and tradesmen for the purpose of purchasing goods and services
answer
medieval fair
question
cities such as Venice and Genoa that became hubs of economic activity in Europe.
answer
Trading centers
question
a member of a feudal class in Europe who were owned by the heads of the estates where they worked.
answer
Serfs
question
the financial standing which finds a person in the median income range; not poor but not rich.
answer
Middle Class
question
Two of the largest CIO unions are the:
answer
United Automobile, Aerospace and Agricultural Implement Workers of America ® United Steelworkers of America
question
the act of keeping accounts, balances, and transactions of a business
answer
Bookkeeping
question
end of the Middle Ages brought about in the quest for new trade routes and raw materials is called ________________
answer
Age of Exploration
question
a monetary unit that was a strong universal standard in the Middle Ages
answer
gold coinage
question
An office developed by kings in order to weaken nobility; answerable only to the king
answer
Sherrif
question
In 2000, Microsoft ® founder William H. Gates III was listed by Forbes ® magazine as being worth __ billion.
answer
$60
question
A search for gold was begun in the New World. New sources were discovered in ______ and in the Western Hemisphere.
answer
Africa
question
A medium of exchange is a good that all people accept as a means of ______
answer
payment
question
The Crusades had whetted the European appetite for Eastern goods. When were the Crusades?
answer
(ca. 1095-1204)
question
a region ruled by a duke or duchess
answer
Duchies
question
a good that all people would accept as a means of payment
answer
Medium of exchange
question
an established and regulated exchange for business between buyers and sellers on a regular basis
answer
Market Economy
question
one who commits money or capital in hopes of receiving a future financial benefit
answer
Investor
question
_____ rounded the Cape of Good Hope in 1487.
answer
Bartholomew Diaz
question
By ___, _____ circumnavigated the globe.
answer
1522, Ferdinand Megellan
question
_____ discovered the Western Hemisphere in 1492.
answer
Coloumbus
question
During the 1400s and 1500s, wealth was defined by the amount of _____ one's country had.
answer
Gold
question
The Western Hemisphere created for Europe a source of _________, gold and silver, and colonial markets.
answer
Raw materials
