Types of resources
These resources are things that come directly from nature.
what is Natural Resources
In my country, the government controls the economy. It assigns jobs, sets production goals, and decides wages.
a) Mixed
b) Traditional
c)Command
d) Market
What is Command
The week before Halloween, pumpkin patches all around the country sell lots of pumpkins. What will happen to the price of pumpkins on the day after Halloween?
What is the price will go down/ decrease
Which of the following is NOT a type of economic system?
A)Traditional Economy
B)Public Market Economy
C) Command Economy
D) Mixed Economy
What is B) Public Market Economy
Why did trading networks, like the Silk Road develop?
A)Travelers enjoyed exploring nearby lands after trading for spices.
B) The trails were used for communication between groups.
C) People wanted to take land and to keep control of that land.
D) Certain resources were not available in all areas.
What is A) Certain resources were not available in all areas.
These resources are people working to produce goods and services
What is Human Resources
In my country, the government has some involvement in the economy.
A)Mixed
B) Command
C) Market
D)Traditional
What is mixed
If the price of iphones goes down, what happens to the demand?
What is Demand Goes up
At Open Market Bakery, a family-owned bakery, fresh bread, cakes, and pastries are made every morning. The bakery is located in a busy city, and customers come to purchase goods based on the prices they are willing to pay. The owners have to adjust prices based on what other bakeries in the area charge. They make their own decisions about what to sell, but the amount of customers they have depends on how well they compete with other bakeries. There are no rules or laws that the bakery must follow while operating their business.
What is Market economy
In Ancient Africa, there was no unified language. Due to this difficulty the West African peoples developed a _______________ amongst themselves and other civilizations beyond the Sahara to trade gold and salt.
What is silent Barter?
These resources are goods produced and used to make other goods and services.
What is capital resources
In my country, our economy is based on customs and beliefs. By custom, some of us hunt, others farm, and we are all taken care of.
What is traditional
Which of the following could cause the demand for airline travel to decrease?
A) The price for traveling by airplane decreases
B) The price of traveling by airplane remains the same
C) The price for traveling by airplane increases
D) None of the choices
C) The price for traveling by airplane increases
Which of the following is a human resource?
A) Teacher
B) Computer
C) Apple Tree
D)Bugs Bunny
What is A) Teacher
Which of the following is true about how trade routes affected ancient societies?
A) As silk grew popular, it became a popular clothing choice for people in the lower classes..
B) As different civilizations traded goods, they also shared cultural values and beliefs.
C) As trade developed, long-distance travel became safe and easy for each civilization.
D) As travel over land became easier, trade by water became unnecessary.
What is B) As different civilizations traded goods, they also shared cultural values and beliefs.
A tractor is an example of what kind of resource?
In my country, prices are determined by supply and demand without government intervention.
What is Market
As price rises, what happens to quantity demanded?
What is Demand decreases/ lowers
In Country C, people rarely engage in market transactions. For the most part, they do not need to. Families grow their own vegetables and raise their own animals or hunt to get meat. Certain times get tough for people in Country C, like when the winters are particularly cold or animals change their migration patterns. For this reason, it is important that families stock up in “good times” and develop relationships with neighbors with whom they can share or trade.
What is traditional economy
Salt was just as valuable as gold in the early empires in West Africa because
A) It was essential to the human body for hydration
B) It was used like sand to create salt sculptures
C) It helped control the mosquito population
D) In crystal form, it looked like diamonds
What is A) it was essential to the human body for hydration
In my country, both private businesses and the government play significant roles in the economy. Which economy is this? Explain your reasoning
What is mixed economy
Ms. Gomez sells T Shirts that she paints. She just painted lots of shirts and has many available to sell. But it's winter and it's cold. Not many people want T shirts. What would be the best thing for Ms. Gomez to do to get people to buy them?
What isMs. Gomez should lower the price of the t-shirts
A new version of a videogame just came out. As a result, not many people want to buy the old version. Stores still have a lot of copies of the old version for sale. What will most likely happen to the price of the old version?
What is the price of the old version will go down
What caused the 1st punic war?
What is Rome and Carthage wanted to have full control of the trade in the Mediterranean.