Do You Know All This About Economy And Geography?

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  • 1/51 Questions

    The word "development" implies ________ 

    • Technology
    • Progress
    • Colonialism
    • Lowering wages through mechanization
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About This Quiz

Economics is a social science concerned with the production, distribution, and consumption of goods and services. Geography is a field of science devoted to the study of the lands, features, inhabitants, and phenomena of the Earth. Take this quiz to know more about both fields.

Do You Know All This About Economy And Geography? - Quiz

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  • 2. 

    Which of the following is used to determine the Human Development Index for economic development? 

    • Natural increase rate

    • Gender inequalities

    • Literacy rate

    • Contagion

    • Resource orientation

    Correct Answer
    A. Literacy rate
    Explanation
    The Human Development Index (HDI) is a measure of a country's overall development based on factors such as life expectancy, education, and income. Literacy rate is used to determine the HDI because it reflects the level of education and knowledge within a population. Higher literacy rates indicate a higher level of human development as it signifies access to education and the ability to acquire and apply knowledge. Therefore, literacy rate is an important indicator in assessing a country's economic development and overall human development.

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  • 3. 

    Which of the four classifications of industry must locate where the resources are found?

    • Tertiary

    • Secondary

    • Primary

    • Quaternary

    Correct Answer
    A. Primary
    Explanation
    The primary industry classification refers to industries that extract or harvest natural resources directly from the earth. These industries include agriculture, mining, fishing, and forestry. Since these industries rely on the availability of specific resources, they must locate their operations close to where these resources are found. This is because transporting large quantities of resources over long distances can be costly and inefficient. Therefore, the correct answer is primary.

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  • 4. 

    Which of the following is a measure of social, rather than economic development of a country?

    • Worker productivity

    • Literacy rates

    • Access to raw materials

    • Gross Domestic Product

    • Availability of consumer goods

    Correct Answer
    A. Literacy rates
    Explanation
    Literacy rates are a measure of social development rather than economic development because they indicate the level of education and knowledge within a country. Higher literacy rates imply that more people have access to education and are able to participate in social and political activities, leading to a more informed and engaged society. Economic development, on the other hand, is typically measured by indicators such as worker productivity, GDP, and access to raw materials, which focus more on the economic output and resources of a country.

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  • 5. 

    Even if the Gross National Product (GNP) index is used to measure the well-being of a country, it will fail to show _________

    • the distribution of wealth

    • Growth in secondary industries(manufacturing)

    • Growth within tertiary industries (services)

    • Growth within primary industries (mining, forestry, agriculture, fishing)

    Correct Answer
    A. the distribution of wealth
    Explanation
    The correct answer is the distribution of wealth. The Gross National Product (GNP) index measures the total value of goods and services produced by a country's residents, regardless of who owns the productive assets. It does not take into account how that wealth is distributed among the population. Therefore, even if the GNP index is used to measure the well-being of a country, it will not provide information on the distribution of wealth among its citizens.

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  • 6. 

    A sock manufacturing in China needs support services, such as surface and ocean transportion, and access to telephone and electricity. These supporting services are all examples of

    • Infrastructure

    • Situational factors

    • Deglomeration

    • Substainable development

    • Value adding products

    Correct Answer
    A. Infrastructure
    Explanation
    The given correct answer is "infrastructure". Infrastructure refers to the basic physical and organizational structures and facilities needed for the operation of a society or enterprise. In the context of the sock manufacturing in China, the support services mentioned such as transportation, access to telephone and electricity are all essential components of the infrastructure required for the smooth functioning of the manufacturing process.

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  • 7. 

    The country with the largest oil reserves in the world is

    • China

    • Kuwait

    • Saudi Arabia

    • United States

    • Russia

    Correct Answer
    A. Saudi Arabia
    Explanation
    Saudi Arabia is the correct answer because it has the largest oil reserves in the world. The country is known for its vast oil fields, particularly the Ghawar Field, which is the largest conventional oil field globally. Saudi Arabia's oil reserves are estimated to be around 266 billion barrels, making it the country with the highest reserves. The oil industry plays a crucial role in the country's economy, contributing significantly to its GDP and government revenue. Additionally, Saudi Arabia is one of the leading oil producers and exporters globally.

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  • 8. 

    Economic development in some African states (e.g. Malawi and Zimbabwe) is hampered by _____________

    • Drought.

    • Drop in the price of oil.

    • Corrupt governments.

    • Religions intolerance.

    Correct Answer
    A. Corrupt governments.
    Explanation
    Economic development in some African states such as Malawi and Zimbabwe is hindered by corrupt governments. Corruption leads to mismanagement of funds and resources, hindering investment, discouraging foreign aid, and undermining trust in the government. This results in a lack of infrastructure development, poor public services, and limited opportunities for economic growth. As a result, these countries struggle to attract investments, create jobs, and improve the living conditions of their citizens.

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  • 9. 

    Which of the following countries is not one of the Four Asian Tigers? 

    • Singapore

    • Vietnam

    • Taiwan

    • Hong Kong

    • South Korea

    Correct Answer
    A. Vietnam
    Explanation
    Vietnam is not one of the Four Asian Tigers. The Four Asian Tigers refer to the highly developed economies of Hong Kong, Singapore, South Korea, and Taiwan. These countries experienced rapid industrialization and high economic growth rates in the second half of the 20th century. Vietnam, although an emerging market, is not considered one of the Four Asian Tigers due to its slower economic development compared to the other four countries mentioned.

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  • 10. 

     Core area agriculture is characterized by_____________ 

    • High levels of farmer education

    • Scientific agronomy

    • Mechanization

    • All of the above

    Correct Answer
    A. All of the above
    Explanation
    Core area agriculture is characterized by high levels of farmer education, scientific agronomy, and mechanization. This means that in core agricultural areas, farmers have a good level of education, enabling them to make informed decisions regarding their farming practices. Scientific agronomy is also prevalent, meaning that farmers in these areas use scientific principles and techniques to optimize their crop production. Additionally, mechanization is common in core area agriculture, with farmers using machinery and equipment to perform various tasks, increasing efficiency and productivity. Therefore, all of the above factors contribute to the characterization of core area agriculture.

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  • 11. 

    Company A orders 1,000 pounds of sugar at a cost of $1 per pound. Company B purchases 500 pounds of sugar at $2 per pound. This is an example of what concept? 

    • Variable costs

    • Agglomeration

    • Fixed costs

    • Carrier efficiency

    • Substitution principle

    Correct Answer
    A. Variable costs
    Explanation
    This scenario demonstrates the concept of variable costs. The cost of sugar for both Company A and Company B varies depending on the quantity purchased. Company A pays $1 per pound for 1,000 pounds, while Company B pays $2 per pound for 500 pounds. The cost of sugar is directly proportional to the quantity purchased, indicating that it is a variable cost.

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  • 12. 

    Which does NOT make up a portion of Columbia's GNP? 

    • Professional sports franchises

    • Drug trafficking

    • Coffee production

    • Tourism

    Correct Answer
    A. Drug trafficking
    Explanation
    Drug trafficking does not make up a portion of Columbia's GNP because it is an illegal activity. GNP, or Gross National Product, refers to the total value of goods and services produced by a country's residents, including both legal and illegal activities. However, drug trafficking is an illicit trade that operates outside the boundaries of the law, and therefore its economic impact is not officially recognized or included in the calculation of a country's GNP.

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  • 13. 

    Which country possesses the greatest natural gas reserves?

    • China

    • Brazil

    • United States

    • Russia

    • India

    Correct Answer
    A. Russia
    Explanation
    Russia possesses the greatest natural gas reserves.

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  • 14. 

    Special economic zones (SEZs) are most common in which country?

    • Japan

    • Great Britain

    • China

    • Russia

    • Brazil

    Correct Answer
    A. China
    Explanation
    China is the correct answer because it has the largest number of special economic zones (SEZs) in the world. These zones are designated areas where the government offers special economic policies and incentives to attract foreign investment and promote economic growth. China's SEZs have played a significant role in its rapid economic development by attracting foreign companies, promoting exports, and creating jobs.

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  • 15. 

    In peripheral countries it is not unusual for hotels in tourist areas to be owned by _________________

    • Local owner operators.

    • Worker's cooperatives.

    • Multinational corporations.

    • Local or regional governments.

    Correct Answer
    A. Multinational corporations.
    Explanation
    In peripheral countries, it is common for hotels in tourist areas to be owned by multinational corporations. This is because multinational corporations have the resources and capital to invest in the tourism industry and establish hotels in popular tourist destinations. These corporations often aim to maximize profits and expand their business globally, leading them to acquire hotels in different countries, including peripheral ones. Local owner operators, worker's cooperatives, and local or regional governments may also own hotels in tourist areas, but multinational corporations are more prevalent due to their global reach and financial capabilities.

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  • 16. 

    Which of the following is used to determine the Human Development Index for economic development? 

    • Natural increase rate

    • Gender inequalities

    • Literacy rate

    • Contagion

    • Resource orientation

    Correct Answer
    A. Literacy rate
    Explanation
    The Human Development Index (HDI) is a measure of economic development that takes into account various factors including education. Literacy rate is an important indicator of education and is used to determine the HDI. Higher literacy rates indicate a more educated population, which is often associated with higher levels of economic development. Therefore, literacy rate is a key component in calculating the HDI and assessing a country's level of economic development.

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  • 17. 

    In 2005, China, Japan, the United States, Russia, and South Korea were the five top producers of ________

    • Steel.

    • Coal.

    • Airplanes.

    • Titanium.

    Correct Answer
    A. Steel.
    Explanation
    In 2005, China, Japan, the United States, Russia, and South Korea were the top producers of steel. This means that these countries were the leading manufacturers of steel during that year.

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  • 18. 

    Establishment of government quotas on imports (e.g. cotton shirts or steel) to the U.S. has led to _______________

    • A collapse of the U.S. market for shirts.

    • A decrease in Chinese shirt production.

    • A shifting of production form country to country in the periphery and semi-periphery.

    • An increase in Chinese wages.

    Correct Answer
    A. A shifting of production form country to country in the periphery and semi-periphery.
    Explanation
    Establishment of government quotas on imports to the U.S. has led to a shifting of production from country to country in the periphery and semi-periphery. This is because when quotas are put in place, it becomes more difficult for certain countries to export their goods to the U.S. market. As a result, production shifts to other countries that are not subject to the quotas, such as those in the periphery and semi-periphery. This allows companies to continue exporting their goods to the U.S. market while avoiding the restrictions imposed by the quotas.

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  • 19. 

    Which of the following is the best example of a labor-intensive industry?

    • An automobile manufacturer

    • A textile manufacturer

    • A soft drink manufacturer

    • A computer parts manufacturer

    • An iron ore processor

    Correct Answer
    A. A textile manufacturer
    Explanation
    A textile manufacturer is the best example of a labor-intensive industry because it requires a significant amount of manual labor to produce textiles. This industry involves various processes such as spinning, weaving, dyeing, and sewing, which all require a large workforce. Unlike the other options listed, textile manufacturing heavily relies on human labor rather than automated machinery.

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  • 20. 

    _______ give loans to poor people, preferably women, to encourage development of small businesses. 

    • NGOs

    • Structural adjustment loans

    • Micro credit programs

    • Maquiladoras

    Correct Answer
    A. Micro credit programs
    Explanation
    Micro credit programs give loans to poor people, preferably women, to encourage the development of small businesses. These programs aim to provide financial support to individuals who do not have access to traditional banking systems. By offering small loans, micro credit programs empower individuals to start or expand their own businesses, ultimately contributing to economic development and poverty reduction. These programs often prioritize women as beneficiaries, recognizing their crucial role in community development and their potential to uplift their families and communities through entrepreneurship.

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  • 21. 

    Alfred Weber identified three factors that determine the location of industries: transportation, labor costs and 

    • Agglomeration

    • Site factors

    • Sustainable development

    • Space-time compression

    • Location of competitors

    Correct Answer
    A. Agglomeration
    Explanation
    Alfred Weber identified agglomeration as one of the factors that determine the location of industries. Agglomeration refers to the clustering of industries in a particular area, which can provide benefits such as access to a skilled labor force, shared infrastructure, and knowledge spillovers. This clustering can create economies of scale and reduce costs for businesses. Therefore, agglomeration plays a crucial role in determining the location of industries.

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  • 22. 

    Which of the following lists Rostowe's development in order? 

    • Traditional society, preconditions for takeoff, drive to maturity, takeoff age of mass consumption

    • Traditional society, takeoff, preconditions for takeoff, age of mass consumption, drive to maturity

    • Traditional society, preconditions for takeoff, takeoff, drive to maturity, age of mass consumption

    • Preconditions for takeoff, takeoff, traditional society, drive to maturity, age of mass consumption

    • Drive to maturity, traditional society, takeoff, preconditions for takeoff, age of mass consumption

    Correct Answer
    A. Traditional society, preconditions for takeoff, takeoff, drive to maturity, age of mass consumption
    Explanation
    Rostowe's development follows a specific sequence. It begins with a traditional society, which is followed by the preconditions for takeoff. After that comes the takeoff, followed by the drive to maturity, and finally the age of mass consumption. This sequence shows the stages of development that Rostowe's model suggests a society goes through.

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  • 23. 

    Mexico has established export processing zones with special tax, trade and regulatory arrangements for foreign firms. This phenomena is referred to as _____________

    • Haciendas.

    • NAFTA zones.

    • Maquiladoras.

    • Border cities.

    Correct Answer
    A. Maquiladoras.
    Explanation
    Mexico has established export processing zones, known as maquiladoras, which have special tax, trade, and regulatory arrangements for foreign firms. Maquiladoras refer to manufacturing plants that import materials and equipment on a duty-free and tariff-free basis for assembly, processing, or manufacturing, and then export the finished products. These zones have been set up to attract foreign investment and promote economic development in Mexico.

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  • 24. 

    Fast, flexible production of small lots with outsourcing around the world is referred to as: ___________

    • Post-Fordist

    • Socialist

    • Colonial production

    • Fordist

    Correct Answer
    A. Post-Fordist
    Explanation
    Post-Fordist refers to a production system that focuses on fast and flexible production of small lots, often involving outsourcing to different locations around the world. This system contrasts with the Fordist production system, which was characterized by mass production and standardization. Post-Fordist production allows for customization and quick adaptation to changing market demands.

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  • 25. 

    Southeast Asia cities have promoted economic growth through what primary means?

    • Western transportation systems

    • Western investment and trade

    • Irrigated fruit farming

    • Truck farming

    • Eastern religion

    Correct Answer
    A. Western investment and trade
    Explanation
    Southeast Asia cities have promoted economic growth through Western investment and trade. This means that these cities have attracted investments from Western countries and engaged in trade with them. This has helped in boosting their economies by bringing in capital, technology, and market opportunities. Western investment and trade have played a significant role in the development and modernization of Southeast Asia cities, contributing to their economic growth and prosperity.

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  • 26. 

    Twenty thousand nongovernmental organizations (NGOs) in Bangladesh constitute what can be called ___________

    • Development islands.

    • A parallel state.

    • Subversive zones.

    • Colonial enclaves.

    Correct Answer
    A. A parallel state.
    Explanation
    The term "development islands" suggests that the NGOs in Bangladesh operate independently and separately from the government, focusing on their own development projects and initiatives. This aligns with the concept of a "parallel state," where these organizations function as a separate entity alongside the formal government structures. The term "subversive zones" implies a negative connotation of undermining or challenging the government, which may not be accurate for all NGOs. "Colonial enclaves" refers to a different historical context and does not accurately describe the relationship between NGOs and the government in Bangladesh.

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  • 27. 

    A large component of survival in countries with low per capita GNP is___________

    • The informal economy.

    • Foreign aid.

    • Tourism.

    • The sale of resources.

    Correct Answer
    A. The informal economy.
    Explanation
    The correct answer is the informal economy. In countries with low per capita GNP, the informal economy plays a significant role in survival. The informal economy refers to unregulated economic activities that are not recorded or taxed by the government. It includes activities such as street vending, small-scale agriculture, and informal labor. In countries with limited job opportunities and formal employment, the informal economy provides a means of income for many individuals and families. It helps people meet their basic needs and sustain their livelihoods in the absence of formal economic opportunities.

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  • 28. 

    The Ruhr industrial area is connected to its port by _________ 

    • Cart roads

    • North Sea

    • Rail roads

    • Rhine river

    Correct Answer
    A. Rhine river
    Explanation
    The Ruhr industrial area is connected to its port by the Rhine river. The Rhine river is a major waterway in Europe and serves as a crucial transportation route for goods and materials. Its proximity to the Ruhr industrial area allows for efficient transportation of goods between the industrial area and the port. This connection plays a significant role in facilitating trade and economic activities in the region.

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  • 29. 

    The transfer of an automobile from a train to a truck at a distribution point is a good example of a(n) 

    • Outsourcing

    • Break-of-bulk point

    • Gross national product

    • Growth pole

    • Carrier efficiency

    Correct Answer
    A. Break-of-bulk point
    Explanation
    A break-of-bulk point refers to a location where goods are transferred from one mode of transportation to another. In the given scenario, the transfer of an automobile from a train to a truck at a distribution point represents a break-of-bulk point. This is because the automobile is being moved from one mode of transportation (train) to another (truck) for further distribution to its final destination. At this point, the goods are being broken down into smaller units for easier distribution and delivery.

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  • 30. 

     Countries in which tier of the world economy (region) have high birth and death rates and low life expectancy at birth?

    • Post-industrial

    • Semi-periphery

    • Core

    • Periphery

    Correct Answer
    A. Periphery
    Explanation
    Countries in the periphery of the world economy have high birth and death rates and low life expectancy at birth. These countries are typically characterized by low levels of industrialization, limited access to healthcare and education, and high levels of poverty. As a result, the population tends to have higher fertility rates and higher mortality rates, leading to lower life expectancy. These countries often struggle with economic development and face various social and health challenges that contribute to these demographic patterns.

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  • 31. 

    The UN developed which statistic as a measure of development in the 1970s to try to quantify economic development? 

    • Dependence theory

    • Technology gap

    • Purchasing power parity

    • Physical Quality of Life Index

    • Human Development Indes

    Correct Answer
    A. Human Development Indes
    Explanation
    The UN developed the Human Development Index (HDI) as a measure of development in the 1970s to quantify economic development. The HDI takes into account factors such as life expectancy, education, and per capita income, providing a more comprehensive understanding of a country's development beyond just economic indicators. It allows for comparisons between different countries and serves as a tool for policymakers to identify areas of improvement and track progress over time.

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  • 32. 

    Which organization is headed by a U.S. citizen, is headquartered in Washington, D.C. and is charged with combating poverty in peripheral countries? 

    • Washington Federal Savings and Loan

    • United Nations

    • World Bank

    • IMF

    Correct Answer
    A. World Bank
    Explanation
    The World Bank is the correct answer because it is an organization headed by a U.S. citizen and is headquartered in Washington, D.C. Its primary goal is to combat poverty in peripheral countries by providing financial and technical assistance for development projects. The World Bank works to promote economic growth, reduce poverty, and improve living standards in developing nations through loans, grants, and policy advice.

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  • 33. 

    Industrialization occurred along an axis from Northern France through North-Central Germany to Czech Republic and South Poland. This axis correlates with ___________ as a locational factor. 

    • Coalfields

    • Population

    • Major ports

    • The trend of the drainage system

    Correct Answer
    A. Coalfields
    Explanation
    The correct answer is coalfields. The axis of industrialization in Northern France, North-Central Germany, Czech Republic, and South Poland is correlated with coalfields as a locational factor. Coalfields provide a significant source of coal, which was essential for fueling the industrial revolution and the development of heavy industries in these regions. The presence of coalfields allowed for easy access to a cheap and abundant energy source, making these areas attractive for industrialization.

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  • 34. 

    Which of the following is NOT a primary industrial region of the world today?

    • South Asia

    • Eastern Asia

    • Western and Central Europe

    • Russia and the Ukraine

    • Eastern North America

    Correct Answer
    A. South Asia
    Explanation
    South Asia is not considered a primary industrial region of the world today. The primary industrial regions are typically characterized by high levels of industrialization, advanced technology, and significant economic activity. South Asia, on the other hand, is still developing its industrial sector and has a lower level of industrialization compared to regions like Eastern Asia, Western and Central Europe, Russia and the Ukraine, and Eastern North America.

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  • 35. 

     Which continent uses nuclear power for a greater percentage of its total power output than any other continent? 

    • South America

    • Europe

    • North America

    • Asia

    • Africa

    Correct Answer
    A. Europe
    Explanation
    Europe uses nuclear power for a greater percentage of its total power output than any other continent. This can be attributed to several factors such as a high demand for electricity, a strong focus on reducing greenhouse gas emissions, and a long history of nuclear energy development. Many European countries have invested heavily in nuclear power plants and have a significant portion of their electricity generated from nuclear sources. Additionally, Europe has a well-established infrastructure and regulatory framework for nuclear energy, which further supports its use in the continent.

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  • 36. 

    The principal structuralist alternative to Rostow's model of economic development is known as __________

    • Dependency theory.

    • The "takeoff" model.

    • The liberal model.

    • The modernization model.

    Correct Answer
    A. Dependency theory.
    Explanation
    The correct answer is dependency theory. Dependency theory is a principal structuralist alternative to Rostow's model of economic development. It argues that developing countries are dependent on developed countries and that their underdevelopment is a result of the exploitative relationships between them. This theory challenges the idea of modernization and emphasizes the role of historical and structural factors in perpetuating inequality and poverty in developing nations.

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  • 37. 

    According to the Core-Periphery Model of economic development, all of the following are peripheral areas of Europe EXCEPT

    • Portugal

    • Southern Italy

    • Greece

    • Ukraine

    • Southeastern England

    Correct Answer
    A. Southeastern England
    Explanation
    According to the Core-Periphery Model of economic development, peripheral areas are typically characterized by lower levels of economic development and less access to resources and opportunities compared to core areas. Based on this model, Portugal, southern Italy, Greece, and Ukraine are considered peripheral areas of Europe. However, southeastern England is not considered a peripheral area as it is a relatively developed and prosperous region within Europe.

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  • 38. 

    Just-in-time delivery refers to what?

    • The process of getting food to the market as people are willing to buy it

    • The process of reducing labor costs to control prices

    • The process of moving materials to reduce cost

    • The process of producing food in time to meet the demand for the food

    • He process of getting food to the market before it spoils

    Correct Answer
    A. The process of producing food in time to meet the demand for the food
    Explanation
    Just-in-time delivery refers to the process of producing food in time to meet the demand for the food. This means that food is produced and delivered to the market exactly when it is needed, minimizing waste and ensuring that the food is fresh and in high demand. This process helps to optimize production and reduce inventory costs.

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  • 39. 

     What major factor has led the Four Asian Tigers to economic success?

    • Low land costs

    • Cheap immigrant labor

    • Low transportation costs

    • Raw materials

    • Trading goods

    Correct Answer
    A. Cheap immigrant labor
    Explanation
    The major factor that has led the Four Asian Tigers to economic success is cheap immigrant labor. This refers to the availability of a large pool of low-cost labor from other countries, which has enabled these economies to attract foreign investment and establish competitive industries. The abundance of cheap immigrant labor has allowed the Four Asian Tigers to keep production costs low, increase productivity, and maintain a competitive edge in the global market.

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  • 40. 

    The most important cost in Weber's least cost theory is

    • Transportation costs

    • Labor costs

    • Land plot costs

    • Infrastructure costs

    • Energy production costs

    Correct Answer
    A. Transportation costs
    Explanation
    Weber's least cost theory is based on the idea that industries will locate their production facilities in the most cost-effective locations. In this theory, transportation costs play a crucial role. The cost of moving raw materials and finished products to and from the production site can significantly impact the overall cost of production. Therefore, minimizing transportation costs is essential for companies to achieve the least cost location. Labor costs, land plot costs, infrastructure costs, and energy production costs are also important factors, but transportation costs are considered the most significant in Weber's theory.

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  • 41. 

    Most of the ethanol (a form of biomass) in the U.S. comes from which biodegradable commodity? 

    • Wheat

    • Soybeans

    • Corn

    • Sugarcane

    • Urban Waste

    Correct Answer
    A. Corn
    Explanation
    Corn is the correct answer because it is the primary source of ethanol production in the United States. Corn is a type of biomass that can be converted into ethanol through a process called fermentation. The high starch content in corn makes it an ideal commodity for ethanol production. Additionally, corn is widely grown in the U.S., making it a readily available and sustainable source of biodegradable material for ethanol production.

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  • 42. 

    Which of the following correctly identifies a theorist with his theory?

    • Harold Hotelling/ locational interdependence theory

    • Alfred Weber/ variable revenue analysis theory

    • Immanuel Wallerstein/ modernization theory

    • Von Thuen/ space-time compression theory

    • W.W. Rostow/ capitalist world economy theory

    Correct Answer
    A. Harold Hotelling/ locational interdependence theory
    Explanation
    Harold Hotelling is correctly identified with his theory of locational interdependence. This theory suggests that the location of a business or industry is influenced by the presence and location of competing businesses. It emphasizes the importance of strategic positioning and considers the effects of competition on location decisions.

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  • 43. 

    Which of the following would be most likely to be critical of modernization theory?

    • A variable revenue analysus theorist

    • A locational interdependence theorist

    • A dependency theorist

    • A least cost theorist

    • A westernization theorist

    Correct Answer
    A. A dependency theorist
    Explanation
    A dependency theorist would be most likely to be critical of modernization theory. Dependency theory argues that the economic development of less developed countries is hindered by their dependence on more developed countries. It challenges the idea that modernization and industrialization will automatically lead to economic growth and social progress. Instead, dependency theorists emphasize the unequal power dynamics and exploitation between developed and developing nations, and advocate for alternative approaches to development that address these structural inequalities.

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  • 44. 

    Which of the following factors would most likely increase the cost of transportation the most?

    • Volumn

    • Refrigeration

    • Finished products

    • Size

    • Weight

    Correct Answer
    A. Weight
    Explanation
    The weight of a product is likely to have the greatest impact on transportation costs. Heavier items require more fuel and resources to transport, as they may require larger vehicles or multiple trips. Additionally, heavier items may also require special handling or equipment, such as cranes or forklifts, which can further increase transportation costs.

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  • 45. 

    The increase in time and cost with distance is referred to as _____________

    • Distribution costs.

    • Production costs.

    • Friction of distance.

    • Distance decay.

    Correct Answer
    A. Friction of distance.
    Explanation
    Friction of distance refers to the concept that as the distance between two locations increases, the time and cost required for distribution also increase. This is because transportation and logistics become more complex and expensive over longer distances. Therefore, the increase in time and cost with distance is accurately described as friction of distance.

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  • 46. 

    Theories which hold that economic disparities are built into the global economic system are referred to as ______ 

    • Neo-capitalist theories

    • Liberal theories

    • Structuralist theories

    • Modernization theories

    Correct Answer
    A. Structuralist theories
    Explanation
    Structuralist theories suggest that economic disparities are inherent in the global economic system. These theories argue that these disparities are not accidental or temporary, but rather a result of the underlying structure and dynamics of the system. They emphasize the role of power relations, institutions, and historical factors in perpetuating these inequalities. Unlike liberal theories, which focus on market mechanisms and individual choices, structuralist theories highlight the systemic nature of economic disparities and call for structural changes to address them. Neo-capitalist theories and modernization theories do not specifically address economic disparities in the global economic system.

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  • 47. 

    This cartel, established in 1960, is the primary group in the world setting oil prices. 

    • Oil and Petroleum Exporting Companies

    • Organization of Phosphate Enhancing Countries

    • Oil and Petroleum Exporting Countries

    • Organization of Petroleum Exporting Countries

    • Oil Producing Exporting Countries

    Correct Answer
    A. Organization of Petroleum Exporting Countries
    Explanation
    The correct answer is the Organization of Petroleum Exporting Countries (OPEC). OPEC was established in 1960 and is the primary group responsible for setting oil prices worldwide. OPEC consists of 13 member countries that collectively produce and export a significant portion of the world's oil supply. Through coordination and cooperation among its members, OPEC aims to stabilize oil markets and ensure fair prices for both producers and consumers.

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  • 48. 

    In terms of today's global economy, which areas would be considered the resource frontier of the world? 

    • Central and Western Europe

    • Eastern South America

    • East Asin

    • Southwest Asia

    • Sub-Saharan Africa

    Correct Answer
    A. Southwest Asia
    Explanation
    Southwest Asia would be considered the resource frontier of the world in terms of today's global economy. This region is rich in natural resources such as oil, natural gas, and minerals. It is home to major oil-producing countries like Saudi Arabia, Iraq, and Iran, making it a significant player in the global energy market. Additionally, Southwest Asia is strategically located between Europe, Africa, and Asia, making it a crucial hub for trade and transportation. Its abundant resources and strategic location make Southwest Asia a key area in the global economy.

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  • 49. 

    The country with the largest coal reserves in the world is

    • Brazil

    • Canada

    • Russia

    • U.S.

    • China

    Correct Answer
    A. U.S.
    Explanation
    The United States has the largest coal reserves in the world. This is due to the country's historical reliance on coal as a major source of energy. The U.S. has vast coal deposits located in various regions, including the Appalachian and Powder River basins. These reserves have been estimated to be around 250 billion short tons, accounting for approximately 23% of the world's total coal reserves. The U.S. coal industry has played a significant role in the country's economy and energy sector for many years.

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Quiz Review Timeline (Updated): Aug 6, 2024 +

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  • Aug 06, 2024
    Quiz Edited by
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  • May 21, 2012
    Quiz Created by
    Jchau100
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