Show:
P.E.G.S.
Four Factors of Production
Economic Terms
Government
Geography
100
What does P.E.G.S. stand for?
P = Political E = Economic G = Geographic S = Social
100
Name the 4 Factors of Production.
Land, Labor, Capital, and Entrepreneurship
100
The money that is left over after all of the costs of production have been added up.
Profit.
100
What type of government does the United States have?
Republic (Democracy, Democratic Republic)
100
Order the following geographic terms from smallest to largest: Continent, City, State, Country, Region. Name each of them for where you live.
City : Dallas State : Texas Region : Southwest Region Country : United States Continent : North America
200
Categorize the following words with the correct PEG letter: Taxes, Holidays, Ocean, Voting.
P = Voting E = Taxes G = Ocean S = Holidays
200
Give a short definition for each of the 4 Factors of Production.
Land = Natural Resources Labor = Human Resources (employees) Capital = Money / Tools and machines used Entrepreneurship = Inventor (Owner, Creator)
200
Any good that is owned by an individual and not by the government.
Private property
200
What two Greek words make up the word Democracy? What do those two Greek words mean?
Demos = People Kratos = Power
200
What are the 5 regions of the United States?
Southwest, Southeast, Northeast, Midwest, West
300
Categorize the following sentence with the correct PEGS letter: In New England, farming was difficult because of the cold winters and the regions rocky soil.
Geographic = New England, cold winters, regions rocky soil
300
What letter of PEGS would these terms fall underneath: President, election, voting, laws, constitution, king, queen.
Government
300
An economic system in which the citizens are given the right to decide what goods to produce, how to produce the goods, and who gets the goods once they have been produced.
Free Enterprise (Free Market, Capitalism)
300
What is a Direct Democracy? Do we have one? Where did it start?
A Direct Democracy is a government system where the people vote on every issue. We DO NOT have a Direct Democracy. Direct Democracy started in Athens, Greece.
300
What are two of the most famous mountain ranges in the United States?
Appalachian Mountain Range and the Rocky Mountains.
400
Categorize the following sentence with the correct PEGS letter: The United States government created laws saying calorie information must be placed on packaging.
Political = government, laws
400
Provide 1 example of each of the Four Factors of Production.
Land = Oil, Trees, Water, Animals, Solar Energy, Labor = Employees of any business Capital = Bulldozer, Coffee Machine, Blender, Deep Fryer Entrepreneurship = Inventor, Steve Jobs, Bill Gates
400
What does it mean that businesses in American "compete" with one another?
Businesses "compete" with one another to keep their prices low and sell the most products.
400
What is a Democratic Republic (Indirect Democracy)? Do we have one?
A Democratic Republic is a government system where the citizens elect representatives to vote on issues for them. Yes, WE DO have a Democratic Republic.
400
Which state in the United States is a peninsula? Which state in the United States is an island? Which state in the United States is actually connected to Canada?
Florida is a peninsula. Hawaii is a peninsula. Alaska is attached to Canada.
500
Categorize the following sentence with the correct PEGS letter: McDonald’s has locations all over the world, drawing in many families, making it the wealthiest fast food restaurant in the Western Hemisphere.
Geographic = world, Western Hemisphere Economic = wealthiest Social = families
500
Categorize the following nouns with their correct factor of production. Paychecks for the employees = ? Construction worker = ? Sugarcane = ? Inventor of smart phones = ?
Paychecks for the employees = Capital Construction worker = Labor Sugarcane = Land Inventor of smart phones = Entrepreneurship
500
Explain the concept of "Supply and Demand".
As the demand (desire) for an item grows the more that the item will be produced. This is an important concept of the Free Enterprise economic system.
500
What three freedoms are guaranteed to citizens in our Democratic Republican government system? What does each of them mean?
The right to vote = elect representatives The right to run for office = gather votes to represent citizens in political office The right to protest peacefully = publicly but peacefully disagree with the government
500
What is a hemisphere? How many hemispheres are there? What two hemispheres is the United States located in? What two lines divide the Earth into hemispheres?
A hemisphere section of the Earth. There are 4 hemispheres (Northern, Southern, Eastern, and Western). The United States is in the Northern Hemisphere and the Western Hemisphere. The Equator and the Prime Meridian.