Government Branches/Laws
What does a governor do?
Carries out laws
What does a bank pay for?
What is opportunity cost?
something you give up to get what you want more.
Why are treaties made? Where are they made?
made to keep peace between countries and are created by the United Nations
What is the difference between a legend and a custom?
A legend is a story passed down from an earlier time and a custom is something that members of a group usually do.
What does the legislature do?
Writes new laws
What is competition?
when a store lowers the price of a product so more people will buy from their store
What is exporting?
What are symbols?
something that stands for a country/place ex. bald eagle and American flag
What can happen when a producer prices a product too high or too low?
If the price is too high, few people will buy it. If it is too low, the producer will not make money.
What do the courts do?
decide if laws have been broken
What are producers and consumers?
producers - sell goods/services
consumers- buy goods/services
The amount producers will make for a certain price
What are examples of capital resources?
A machine, building, cranes, etc.
What is the difference between import and export?
An import is a product brought into a country to be sold. An export is a product sent out of a country to be sold.
What branch decides what laws mean?
judicial branch
What is barter?
instead of using money people trade goods to get what they want
What is a budget?
a plan for using money
What are lines and latitude and longitude? Where are they located?
latitude run horizontally - E to W
longitude - top to bottom - N to S
What are three resources needed to make jeans?
Three resources are human, capital and natural resources.
Name the three branches of government and what they do.
Judicial- headed by supreme court and decides what laws mean
executive- headed by the president
legislative - headed by House of Representatives and the Senate
What is demand?
What is scarcity?
when a producer cannot make enough goods for people who want them.
What does our Independence Day stand for?
The day we gained independence for British rule.
What are you going to get on your Social Studies EOY?????