Skip to ContentGo to accessibility pageKeyboard shortcuts menu
OpenStax Logo

18.1 Economic Systems


Which of these is an example of a commodity?

  1. A restaurant meal
  2. Corn
  3. A college lecture
  4. A book, blog entry, or magazine article

When did the first economies begin to develop?

  1. When all the hunter-gatherers died
  2. When money was invented
  3. When people began to grow crops and domesticate animals
  4. When the first cities were built

What is the most important commodity in a postindustrial society?

  1. Electricity
  2. Money
  3. Information
  4. Computers

In which sector of an economy would someone working as a software developer be?

  1. Primary
  2. Secondary
  3. Tertiary
  4. Quaternary

Which is an economic policy based on national policies of accumulating silver and gold by controlling markets with colonies and other countries through taxes and customs charges?

  1. Capitalism
  2. Communism
  3. Mercantilism
  4. Mutualism

Who was the leading theorist on the development of socialism?

  1. Karl Marx
  2. Heidimarie Schwermer
  3. Émile Durkheim
  4. Adam Smith

The type of socialism now carried on by Russia is a form of ______ socialism.

  1. centrally planned
  2. market
  3. utopian
  4. zero-sum

Among the reasons socialism never developed into a political movement in the United States was that trade unions _________.

  1. secured workers’ rights
  2. guaranteed health care
  3. broke up monopolies
  4. diversified the workforce

Which country serves as an example of convergence?

  1. Singapore
  2. North Korea
  3. England
  4. Canada

18.2 Globalization and the Economy


Ben lost his job when General Motors closed U.S. factories and opened factories in Mexico. Now, Ben is very anti-immigration and campaigns for large-scale deportation of Mexican nationals, even though, logically, their presence does not harm him and their absence will not restore his job. Ben might be experiencing _____________.

  1. xenophobia
  2. global commodity chains
  3. xenophilia
  4. global assembly line

Which of the following is not an aspect of globalization?

  1. Integrating governments through international trade
  2. Integrating cultures through international trade
  3. Integrating finance through international trade
  4. Integrating child care through international trade

One reason critics oppose globalization is that it:

  1. has positive impacts on world trade
  2. has negative impacts on the environment
  3. concentrates wealth in the poorest countries
  4. has negative impacts on political stability

All of the following are characteristics of global cities, except:

  1. headquarter multinational corporations
  2. exercise significant international political influence
  3. host headquarters of international NGOs
  4. host influential philosophers

Which of the following is not a characteristic of multinational corporations?

  1. A large share of their capital is collected from a variety of nationalities.
  2. Their business is conducted without regard to national borders.
  3. They concentrate wealth in the hands of core nations.
  4. They are headquartered primarily in the United States.

18.3 Work in the United States


Which is evidence that the United States workforce is largely a meritocracy?

  1. Job opportunities are increasing for highly skilled jobs.
  2. Job opportunities are decreasing for midlevel jobs.
  3. Highly skilled jobs pay better than low-skill jobs.
  4. Women tend to make less than men do for the same job.

If someone does not earn enough money to pay for the essentials of life he or she is said to be _____ poor.

  1. absolutely
  2. essentially
  3. really
  4. working

What is the practice where the differences between low-end and high-end jobs become greater and the number of people in the middle levels decreases?

  1. polarization
  2. meritocracy
  3. outsourcing
  4. structural unemployment
Order a print copy

As an Amazon Associate we earn from qualifying purchases.


This book may not be used in the training of large language models or otherwise be ingested into large language models or generative AI offerings without OpenStax's permission.

Want to cite, share, or modify this book? This book uses the Creative Commons Attribution License and you must attribute OpenStax.

Attribution information
  • If you are redistributing all or part of this book in a print format, then you must include on every physical page the following attribution:
    Access for free at
  • If you are redistributing all or part of this book in a digital format, then you must include on every digital page view the following attribution:
    Access for free at
Citation information

© Jan 18, 2024 OpenStax. Textbook content produced by OpenStax is licensed under a Creative Commons Attribution License . The OpenStax name, OpenStax logo, OpenStax book covers, OpenStax CNX name, and OpenStax CNX logo are not subject to the Creative Commons license and may not be reproduced without the prior and express written consent of Rice University.