Economic Geography Quizzes: Test Your Knowledge of Economic Systems and Global Trade

Question 1

What is the term used to describe producing goods and services in large quantities?

Accepted Answer

Mass production

Answer

Industrialization

Answer

Automation

Answer

Globalization

Question 2

Which characteristic is distinctive to a market economy?

Accepted Answer

Prices influenced by market forces of supply and demand

Answer

Centralized government control over resource allocation

Answer

Minimal government intervention

Answer

Emphasis on social welfare programs

Question 3

Which of the following resources is considered renewable?

Accepted Answer

Solar energy

Answer

Coal

Answer

Oil

Answer

Natural gas

Question 4

What is the term for an economic system where the government controls the means of production and distribution?

Accepted Answer

Command economy

Answer

Market economy

Answer

Mixed economy

Answer

Socialism

Question 5

What is a major factor driving urbanisation?

Accepted Answer

Increased job opportunities in cities

Question 6

The key distinction between renewable and non-renewable resources is:

Accepted Answer

Time taken to replenish

Answer

Geographic distribution

Question 7

The movement of people from rural to urban areas is known as:

Accepted Answer

Urbanization

Answer

Industrialization

Answer

Migration

Answer

Suburbanization

Question 8

The industry that involves the extraction and production of raw materials from the earth is known as:

Accepted Answer

Primary industry

Answer

Secondary industry

Answer

Tertiary industry

Answer

Quaternary industry

Question 9

The process by which governments provide goods and services to their citizens is referred to as:

Accepted Answer

Public expenditure

Answer

Nationalization

Answer

Privatization

Answer

Deregulation

Question 10

Which of the following is NOT a benefit of economic globalization?

Accepted Answer

Increased economic inequality

Answer

Increased trade and investment

Answer

Access to a wider range of goods and services

Answer

Improved living standards

Question 11

The theory that emphasizes the role of government intervention in stimulating economic growth is known as:

Accepted Answer

Keynesian economics

Answer

Classical economics

Answer

Monetarism

Answer

Marxist economics

Question 12

An economic system in which the government has substantial control over the allocation of resources and the means of production is known as:

Accepted Answer

Communism

Answer

Capitalism

Answer

Socialism

Answer

Mixed economy

Question 13

Which of the following is a characteristic of a centrally planned economy?

Accepted Answer

Government direction of economic activities

Answer

Free market competition

Answer

Private ownership of industries

Answer

Consumer sovereignty

Question 14

The theory of 'comparative advantage' suggests that countries should:

Accepted Answer

Specialize in producing goods where they have the higher relative efficiency

Answer

Produce only goods where they have the absolute advantage

Answer

Protect domestic industries from foreign competition

Answer

Import all goods from other countries

Question 15

Which of the following is a potential benefit of globalization?

Accepted Answer

Enhanced economic opportunities

Answer

Reduced cultural diversity

Answer

Increased environmental degradation

Answer

Intensified global inequalities

Question 16

Which of the following industries is NOT considered a primary sector industry?

Accepted Answer

Manufacturing

Answer

Agriculture

Answer

Mining

Answer

Forestry

Question 17

What is the primary factor that differentiates a developed country from a developing country?

Accepted Answer

Standard of living

Answer

Industrialization

Answer

Natural resources

Answer

Population size

Question 18

Identify the characteristic that is NOT typically associated with developed economies.

Accepted Answer

Significant informal economic sector

Answer

Advanced industrial infrastructure

Answer

Low birth rates

Answer

High levels of technological advancement

Question 19

Select the sector of the economy that includes activities such as teaching, healthcare, and entertainment.

Accepted Answer

Tertiary

Answer

Primary

Answer

Secondary

Answer

Quaternary

Question 20

Which economic system is characterized by central government control of major industries and a focus on social welfare?

Accepted Answer

Socialist economy

Answer

Free market economy

Answer

Mixed economy

Answer

Command economy

Question 21

Which industry has the greatest potential to contribute to environmental degradation?

Accepted Answer

Heavy manufacturing

Answer

Tourism

Answer

Agriculture

Answer

Education

Question 22

Which of the following is NOT a characteristic of a primary economic sector?

Accepted Answer

High levels of technology

Answer

Extraction of raw materials

Answer

Low value-added activities

Answer

Employment of a large workforce

Question 23

Which of the following is a key feature of a market economy?

Accepted Answer

Private ownership of businesses

Answer

Government control over production

Answer

Central planning

Answer

Emphasis on social equality

Question 24

Which of the following is a method of collecting quantitative data in economic geography?

Accepted Answer

Conducting surveys

Answer

Carrying out interviews

Answer

Observing participants

Answer

Analyzing qualitative data

Question 25

The Gross Domestic Product (GDP) of a country represents:

Accepted Answer

The total value of all goods and services produced within its borders in a given year

Answer

The total income earned by all residents of the country in a given year

Answer

The total amount of money spent by consumers in the country in a given year

Answer

The total value of all exports from the country in a given year

Question 26

The process by which raw materials are transformed into final products is known as:

Accepted Answer

Production

Answer

Distribution

Answer

Consumption

Answer

Transportation

Question 27

Which of the following is an example of a positive externality associated with economic development?

Accepted Answer

Improved access to healthcare

Answer

Increased air pollution

Answer

Reduced traffic congestion

Answer

Depletion of natural resources

Question 28

Which of these is a commonly used measure of income inequality within a country?

Accepted Answer

Gini coefficient

Answer

GDP per capita

Answer

Human Development Index

Answer

Purchasing power parity

Question 29

The primary function of the World Bank is to:

Accepted Answer

Provide financial assistance and loans to developing countries

Answer

Resolve international trade disputes

Answer

Maintain global peace and security

Answer

Promote cultural exchange between nations

Question 30

In an economic system where individuals primarily own resources and prices are determined by the market, which system is being described?

Accepted Answer

Capitalism

Answer

Socialism

Answer

Communism

Answer

Mixed economy

Question 31

The term used to describe the concentration of an industry in a particular location is:

Accepted Answer

Agglomeration

Answer

Specialization

Answer

Localization

Answer

Dispersion

Question 32

The organization responsible for promoting global trade is:

Accepted Answer

World Trade Organization (WTO)

Answer

International Monetary Fund (IMF)

Answer

United Nations (UN)

Answer

World Bank

Question 33

What is the primary goal of a multinational corporation (MNC)?

Accepted Answer

To maximize shareholder profits

Answer

To operate globally

Answer

To create employment opportunities worldwide

Answer

To promote sustainable economic development

Question 34

Which of the following is a potential downside of globalization?

Accepted Answer

Job displacement in certain sectors

Answer

Increased economic interdependence

Answer

Cultural diversity

Answer

Improved communication and transportation

Question 35

What is the term for the process of transporting goods from producers to consumers?

Accepted Answer

Distribution

Answer

Production

Answer

Consumption

Answer

Exchange

Question 36

Which of the following industries extracts natural resources from the earth?

Accepted Answer

Mining

Answer

Agriculture

Answer

Manufacturing

Answer

Services

Question 37

Which of the following is a sustainable practice in agriculture?

Accepted Answer

Organic farming

Answer

Monoculture farming

Answer

Excessive use of chemical fertilizers

Answer

Deforestation

Question 38

What is the primary difference between a developed and a developing country?

Accepted Answer

Level of economic development

Answer

Political system

Answer

Population size

Answer

Geographic location

Question 39

Which of the following is NOT a factor that positively influences economic development?

Accepted Answer

Extreme weather events

Answer

Availability of natural resources

Answer

Skilled labor force

Answer

Favorable geographic location

Question 40

What is the name of the exchange of goods and services for money?

Accepted Answer

Trade

Answer

Production

Answer

Consumption

Answer

Distribution

Question 41

Which of the following is an example of a primary industry?

Accepted Answer

Farming

Answer

Manufacturing

Answer

Education

Answer

Healthcare

Question 42

What is the term for the movement of goods and services from producers to consumers?

Accepted Answer

Distribution

Answer

Production

Answer

Consumption

Answer

Trade

Question 43

What is the term for the difference in income between the richest and poorest members of society?

Accepted Answer

Income inequality

Answer

Economic growth

Answer

Human development

Answer

Social mobility

Question 44

Which of the following industries belongs to the secondary sector?

Accepted Answer

Manufacturing

Answer

Agriculture

Answer

Retail

Answer

Education

Question 45

Which type of economic system is characterized by private ownership of businesses and free market principles?

Accepted Answer

Capitalism

Answer

Socialism

Answer

Mixed economy

Answer

Command economy

Question 46

What is the process by which raw materials are transformed into finished products?

Accepted Answer

Manufacturing

Answer

Distribution

Answer

Consumption

Answer

Transportation

Question 47

What is the term for the interconnectedness of economic activities across borders?

Accepted Answer

Globalization

Answer

International trade

Answer

Multinational corporations

Answer

Economic interdependence