Untitled Flashcards Set

Practice Test: Economic and Environmental Concepts

Section 1: Multiple Choice (10 Questions)

1. What does GDP measure?
   a) The total value of all imports
   b) The total value of goods and services produced within a country
   c) The number of workers in an economy
   d) The level of inflation

2. The Exclusive Economic Zone (EEZ) extends how many nautical miles from a country’s coast?
   a) 100
   b) 150
   c) 200
   d) 250

3. What is the main difference between tariffs and free trade?
   a) Free trade restricts imports, while tariffs do not
   b) Tariffs encourage international trade, while free trade prevents it
   c) Tariffs impose taxes on imports, while free trade allows unrestricted exchange
   d) Free trade increases the cost of imported goods, while tariffs lower them

4. Which of the following is an example of a non-renewable resource?
   a) Timber
   b) Solar energy
   c) Coal
   d) Wind energy

5. What is the primary role of human resources in resource development?
   a) Managing natural resource extraction
   b) Supplying labor and skills
   c) Ensuring sustainable yield management
   d) Reducing ecological overshoot

6. The multiplier effect describes how:
   a) An initial investment leads to a greater overall economic impact
   b) Imports and exports balance each other
   c) Tariffs create more domestic jobs
   d) The economy grows only through trade agreements

7. Which industry is an example of a tertiary industry?
   a) Forestry
   b) Car manufacturing
   c) Banking services
   d) Mining

8. Crown lands in Canada are owned by:
   a) Private companies
   b) The federal and provincial governments
   c) Indigenous groups exclusively
   d) Foreign investors

9. Sustainable yield management is best represented by:
   a) Overfishing to maximize profits
   b) Using natural resources faster than they can regenerate
   c) Harvesting trees at a rate where they can regrow naturally
   d) Extracting as much oil as possible in a short period

10. What is a major concern regarding transboundary water bodies?
    a) They are privately owned
    b) They require international cooperation for sustainable management
    c) They only exist in developing nations
    d) They are not affected by pollution

Section 2: True or False (10 Questions)

11. A trade deficit occurs when a country exports more than it imports. (True/False)

12. The primary industry involves research and development of new technologies. (True/False)

13. Aquaculture is an alternative to traditional fishing and helps reduce overfishing. (True/False)

14. Ecological overshoot means humans are using resources at a rate faster than the Earth can replenish. (True/False)

15. Sovereignty refers to a country’s complete control over its policies and resources. (True/False)

16. The secondary industry transforms raw materials into finished goods. (True/False)

17. Globalization only has positive effects on economies. (True/False)

18. Alternative energy sources include solar, wind, and geothermal power. (True/False)

19. Transportation and distribution do not affect resource accessibility. (True/False)

20. A quaternary industry includes IT services, data analysis, and scientific research. (True/False)

Section 3: Short Answer (10 Questions)

21. Define reciprocity in terms of trade agreements.

22. Explain the difference between imports and exports and how they impact an economy.

23. How does free trade benefit a country’s economy?

24. Describe one real-world example of sustainable yield management.

25. What are two factors that affect resource development in Canada?

26. Why is the multiplier effect important in economic growth?

27. How do natural resources contribute to economic development?

28. What is the difference between a flow resource and a renewable resource?

29. Name two alternative energy sources and explain their advantages.

30. Why is the management of transboundary water bodies crucial for sustainability?