African Economy

What is economy?

• a dollar bill

• the wealth and resources of a country or region

• a type of government

• all of the above

Which is an example of a good?

• a new car

• your messy, overflowing binder

• a pair of airpods

• all of the above

Which is an example of a service?

• a tree

• a pair of shoes

• a hotel

• none of the above

What is an economic producer?

• a teacher

• a person who creates a new math problem

• a person, company or country that makes goods for sale

• a person who makes a movie

Check all the examples of a consumer.

• your parents

• you

• Mr. Throop

• a tree

What is bartering?

• paying for a good with money

• paying for a good with your good looks

• trading an item for a good

• paying for a good with a credit card

What does rural mean?

• city-life

• moving from the country to the city

• country side

• Is there life on Mars?

Which are characteristics of urban life?

• a country farm

• a factory within the city

• a skyscraper building

• Antarctica

What will a subsistence farmer do with their crops?

• harvest them and sell them all at a market

• grow much more than they need in order to make money

• farm just enough food for their family to use and sell what might be left over

• flood the fields so the crops won't grow

Who makes the decisions in a market economy?

• the government

• individuals and private companies

• a mix of government and private companies

• none of the above