The Economy
This is the kind of economy the U.S. has.
What is a free market economy?
Many people want to buy a product if THIS is high (answer is either SUPPLY or DEMAND).
What is the demand?
These industries make up the largest part of the United States today.
What are service industries?
In a free market economy, this is who makes most of the decisions about a business.
According to the lunar calendar, 2021 is the year of this.
What is the year of the ox?
This is the way people in a place or region use resources to meet their needs. It is also all the buying, selling, and producing people do.
What is the economy?
True or False: Demand is the amount of a product or service that is available.
What is false?
People paid to DO things for other people work in this kind of industry.
What is the service industry?
This was the main economic activity in the U.S. economy in the 1700s.
What is agriculture?
Fredrick Douglass was a famous African American THIS.
What is an abolitionist?
The human, natural, and capital resources that a business needs to produce goods or services are called this.
What are the factors of production?
True or False: Demand is the amount of a product or service that people are willing to pay for.
What is true?
People who work on farms and ranches harvesting crops and raising cattle work in this kind of industry.
What is the agriculture industry?
This was the main economic activity of the U.S. in the 1900s.
What is manufacturing?
Harriet Tubman was one of the most famous conductors on THIS, helping African Americans escape slavery.
What is the Underground Railroad?
This is the money that a business has left after it pays all its bills.
What is a profit?
After Valentine's Day, ShopRite has a lot of leftover heart-shaped candy. They put the candy on sale for 50% off the day after Valentine's Day. In this scenario, there is:
What are High Supply and Low Demand?
Factories that make products and items to be sold in stores are a part of this industry.
What is the manufacturing industry?
This is the main economic activity in the U.S. today.
What is service?
True or False: W.E.B. Du Bois helped create the N.A.A.C.P. (the National Association for the Advancement of Colored People).
What is TRUE?
This is the goal of MOST businesses.
What is "to make a profit?"
Apple comes out with the latest iPhone model. The Apple store in the mall only gets a small shipment of the new phone. They sell out immediately and there are people waiting in line at the store to get the new phone. In this scenario, there is:
What are Low Supply and High Demand?
What are service, agriculture, and manufacturing?
Name a way that you can participate in the GLOBAL economy.
Go to Shoprite and buy a tropical fruit or vegetable.
Miss Morris and Mrs. Stevenson were both born in the lunar year of THIS animal.
What is the year of the snake?