Vocabulary
Someone who makes or grows items for sale
Producer
Tori is making a lemonade stand. She has 4 pitchers of lemonade to sell. The amount of lemonade she has to sell is her ________________. The number of customers who want lemonade is the ____________
Supply Demand
What 2 industries are the biggest part of the California Economy TODAY?
Entertainment and Technology
In the 1800s the Industrial Revolution meant that people began making cloth and other goods in _______________________
factories
extremely poor living conditions; the lack of money and resources.
poverty
The THINGS people buy and sell
Goods
A video game is very popular with customers. Many people are buying the game. What might happen to the price of the game.
Price will go up
What is the biggest industry in the MidWest Region?
Agriculture or Manufacturing
Eli Whitney invented a machine that allowed ________________________ to be cleaned quickly and efficiently.
cotton
Migration from one nation to another
immigration
JOBS people pay others to do for them
SERVICES
A store ordered 500 orange sweatshirts, planning to sell them for $30. Nobody was buying the orange sweatshirts. What will most likely happen to the price of the orange sweatshirts?
Price will likely go down
What are 2 crops that have been part of the Economy of the Southern Region?
Cotton, Sugar, Tobacco, Rice
Making many products in the same place using interchangeable parts so many items can be made quickly is called _________________________
mass production
A person forced to move to a new country because of dangerous conditions in their home country
refugee
The study of how people use resources to meet their needs
Economics
In the grocery store, shoppers find a good sale on chicken. Lower prices on chicken tenders! What may happen to the price of hamburger?
beef price may also go down because of people not buying supply of beef.
Ranching (raising cattle for beef) is an important Economic activity in what Region of the US?
West or SouthWest
What 2 ways of transporting Goods increased the productivity of the United States during the Industrial Revolution?
Paddle Wheel Steamboats and Railroads
The illegal movement of immigrants by paid middlemen who often cheat or harm the immigrants once they arrive in the new country.
human trafficking
System where people are allowed to own their own businesses, and buy or sell any product allowed by law.
Free Enterprise
Farmers are needing to kill many flocks of chickens because of Bird Flu. How might this affect the price of eggs - and WHY?
price of eggs might go up because supply is lower
The US imports many fruits and vegetables from Mexico. President Trump may order a Tariff on goods brought into the US from Mexico. What may happen to the Supply of fruits and vegetables?
Supply may be lower
What is the name of the man made waterway that connected the Hudson River to the Great Lakes in 1825?
Erie Canal
What are the most common jobs for migrants in the US?
farm labor or domestic labor