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Name: _____________________________ Mid-Term Study Guide 6th grade Social Studies Economy 1. What is a market economy? An economy where all businesses are owned by private citizens or groups of citizens. 2. What is a command economy? An economy where the government owns all of the country’s resources and businesses. 3. What is a traditional economy? An economy where people and families use the same work methods and tools generation after generation (think Native Americans). 4. What is a mixed economy? An economy that has some government owned and some privately owned businesses. 5. What is an entrepreneur? A person who uses his/her money to start a business. 6. Give an example of an entrepreneur. Explain how you know they are an entrepreneur and not a regular worker. Bill Gates, Sam Walton, and Rob Dyrdek are all entrepreneurs. They all created and started their own business. 7. You own the Happy Tuna Company, a company of fishing ships in southern Florida. Florida is a state in the United States, and uses the dollar as its currency. You make your living selling fish to your customers. Today you have received two orders: Order # 1 Order # 2 To: Happy Tuna Co. Miami, FL To: Happy Tuna Co. Miami, FL From: Le Poisson Fish Market Paris, France From: Red Lobster Atlanta, GA USA 100 tons of sea bass 100 tons of sea bass Note: France is an EU member nation that uses the euro. Note: Georgia is a state in the United States that uses the dollar. Based on what you see in the two orders above, which of the orders is easier for you to fill and why? Red Lobster because they use the same currency- dollars! 8. How are embargos, quotas, and tariffs similar? They all three are similar because they have to do with trade. 9. How are embargos, quotas, and tariffs different? Remember this song: “Embargo is a no go, tariff is a tax, a quota is a limit you can’t get more than that!” 10. What do the most of the economies in Europe have in common? They all have Mixed economies. Name: _____________________________ 11. What are the 4 major goals of the European Union? 1) Pretty Frogs Scream Everyday Maintain Peace with European countries 2) Promote Free Trade. Have a common currency- Euro 3) Safety of the people within Europe. 4) Help the environment and stop pollution within Europe 12. If a country does not invest in human capital, what kind of problems could this cause for that country? Humans or citizens need to be educated to be able to be productive (do a good job!) For example, In school your teachers put a lot of time into teaching you information (investment) so you will do a good job on the test. If money or time is not put into human capital this could lead to a low literacy rate (no one can read or write) and then that would lead to a low standard of living. The economy would struggle without educated workers. 13. Name 3 examples of a company investing in capital resources? 1. Constructing a new factory 2. Buying new supplies 3. Repairing machines so they run faster 14. If a country does not invest in capital improvements, then what will happen to that countries factories and businesses? They will not be as productive as workers in other countries. Since the machines and factories are old and run-down, they will not be able to produce as many products as other countries will. Use the continuum to answer questions 15 & 16. 15. Country #1 is the least free because the government owns most of their businesses. They are closest to the command economy of the continuum. 16. Country #2 has more government control than country #3. Country #2 has more government owned public businesses than Country#3. Country #3 has more private businesses. 17. If everyone in a certain country had a college degree, how might that affect that country’s GDP? The GDP would go up! Because their human resources would be very smart and able to produce more. 18. If very few people in a country can read and write, what kind of GDP would that country probably have? The GDP would be low! Because their human resources would not be able to read and might not be able to produce very much. 19. List four reasons why a country might have a good economy? What would help countries to have good economies? 1. Their climate is good for agriculture and resources 2. Trade with many different countries 3. Educated workers and lots of smart entrepreneurs 4. Newer buildings and machines for businesses Name: _____________________________ 20. What gives island countries an advantage when they are trying to trade? Island countries allow boats to easily travel in and out because they have many seaports. 21. Why is it sometimes difficult for countries with cold climates to trade? the climate is too cold for most crops and livestock Governments DEFINE: 22. Autocracy one person has all control (Example- Dictators) 23. Oligarchy one group of people has all control (Example- Nazis) 24. Democracy Citizens vote (USA) 25. Unitary Form of government where the power is held by one central authority 26. Confederation Independent countries work together to secure a common purpose 27. Federal Power is divided 28. Parliamentary Democracy You are the leader of your country’s democratically-elected government. Your political party was voted into office and once you were in the legislature, you were chosen to be the head of the government. You are a part of the legislature. Geography 29. What are the environmental issues of Europe? (name all 3) 1. Chernobyl- Nuclear Power Plant blew up 2. Acid Rain- Germany 3. Air Pollution- United Kingdom 30. What are the major religions in Europe? AND name 3 facts about each. 1) Christianity- Holy book is the Bible, Worship in a Church, Jesus is the founder 2.) Islam- Holy book is the Koran, Worship in a Mosque, Muhammad is founder 3.) Judaism- Holy book is the Torah, Worship in a Synagogue, Abraham is founder 31. What are the major languages of Europe? German, Italian, Russian, English, French Name: _____________________________ 32. What makes Russian different from the other languages of Europe? Russian uses a different alphabet (Cyrillic) 33. What is literacy rate? The percentage of people in a country that are over the age of 15 and can read and write 34. What is a culture? The beliefs, traditions, laws, art, food, and ways of living that a group of people share 35. What is standard of living? How wealthy or poor a nation is—high or low 36. What are natural resources? any product that comes from nature (ex. coal, fruits, vegetables) History 37. What did the Treaty of Versailles do? (name 3 things) -kept Germany from having a large army, made Germany pay for damages from the war, made Germany a weaker country, and ENDED WW1 38. What caused the Cold War and who was involved? USA & Soviet Union were involved, It was caused by tensions about who had more nuclear weapons 39. Explain German Reunification. East and West Germany were put back into one Germany. The Berlin Wall finally came down. 40. Why was Prince Henry an important person in Europe’s history? He was a famous explorer from Portugal who was the son of a king and started a school of navigation. He had a role in starting the slave trade. 41. How do you know which countries were once colonies of England (the United Kingdom)? You can tell because of what language they speak (English)… Examples are United States, Australia, India, Jamaica, Canada 42. Why did England colonize Australia? (give three reasons) To have a place to send their prisoners To have a place for their navy in the southern hemisphere To have a trading post near Asia To beat France and have more colonies than France 43. How did European empire building lead to World War 1? Most of the countries in Europe were all competing with each other to colonize parts of Africa, Asia, and the Middle East. Tension was created through all the competition and the strong Nationalism between European countries. **Remember that empire building led to WW1!!!*** 44. What were the main reasons why the Russian Revolution happened? The Russian people were unhappy with Czar Nicholas’ leadership and they were upset about being involved in WW1. 45. Name (3) reasons why Europeans colonized and explored other parts of the world? The 3 G’s Reason 1: God: They wanted to spread the word of God and make other cultures more civilized. Reason 2: Gold: They wanted all the wonderful new natural resources these colonies had to offer. Examples: spices, silk, gold, salt, and oil. Name: _____________________________ Reason 3: Glory: They wanted to be the best! Countries in Europe had strong Nationalism (pride for their country) and wanted to compete for greatness with other European countries. 46. Name (2) impacts of this colonization and exploration (good or bad)? Impact 1: Impact 2: Possible impacts: Slavery started, culture was spread, WW1 started because of the tension between empires, diseases spread, natives were forces off their lands 47. KNOW ALL of the locations of the countries and physical features in Europe. (physical and political maps)