Unit 6 Review

Why are entrepreneurs called “risk-takers”?

• because they combine land, labor, and capital to start a new business

• because they get charged more taxes than other business owners

• because they could lose all of their money starting a new business

Which of the following CORRECTLY describes an entrepreneur?

• Maria starts a car-washing business and hires her closest friends.

• Oscar babysits his little brother while his parents go to the movies.

• Anyelina mows the lawn every weekend because it is one of her chores.

• Jordan gets a job at the mall so he can earn money for a new skateboard.

Which type of productive resource is a tree?

• capital good

• natural resource

• human resource

What do human resources provide to businesses?

• land

• labor

• capital

Hassanie works for the Coca-Cola company as a truck driver. What type of resource is Hassanie?

• capital resource

• human resource

• natural resource

Paige loaded her truck with vegetables from her garden to sell at a local market. Which of the following BEST describes Paige truck?

• capital resource

• human resource

• natural resource

Use the information to answer the following question.

The people of a small city in Georgia wanted a new public park. The mayor of the city agreed. A location for the park was selected, and the park was built with a fountain and swing set. Everyone loves the new park!

How did the city MOST LIKELY pay for the new park?

• The federal government gave the city a loan to pay for the park.

• The mayor of the city paid for the park out of her own money.

• The city paid for the park to be built with taxes paid by the citizens.

Who provides MOST of the money for the jobs in the list?

• businesses

• charities

• taxpayers

• president

Georgia farms a lot of peaches. Peaches do not grow well in Hawaii. Hawaii grows pineapples, but Georgia does not. Which of the following provides an example of a voluntary exchange?

• The two states consume each other’s fruits.

• The two states donate their fruits to each other.

• The two states trade fruits with each other.

Which of the following is TRUE about supply and demand?

• If supply is equal to the demand, then prices are higher.

• If supply is greater than demand, then prices are higher.

• If demand is greater than supply, then prices are lower.

• If supply is greater than demand, then prices are lower.