Social Studies Chapter 11: Economics

Oscar Weissenborn began making pencils in his home in New Jersey in 1889. He was one of the first Americans to make pencils. Eventually, so may people bought Weissenborn's pencils that he had to move his business into a larger building.

What would you call Oscar Weissenborn?

• a wage earner

• a consumer

• an importer

• an entrepreneur

Oscar Weissenborn began making pencils in his home in New Jersey in 1889. He was one of the first Americans to make pencils. Eventually, so may people bought Weissenborn's pencils that he had to move his business into a larger building.

If the pencils were sold to people in other countries, what would Weissenborn's business be?

• a capital resource

• an export company

• a human resource

• a barter system

What would a student who is also a consumer do?

• open a business that makes skateboards

• buy paper and pencils to use to complete his or her homework

• create a website for children

• learn how to sell goods through e-commerce

How do people get most of the goods they need?

• by producing the goods themselves

• by bartering for the goods

• by buying the goods with money

• by trading the goods they already own

What is the land in Helena mostly used for?

• forests

• farming

• cattle

• oil or natural gas

Which area is a manufacturing center?

• Clinton

• Pine Bluff

• Jonesboro

• Texarkana

What is timber an example of?

• capital

• communication link

• equipment

• raw material

What recent technologies have changed the way people work?

• the television and workers

• the Internet and e-mail

• the factory and raw materials

• the barge and advertisements

One way for people to earn a/an _____ is by doing a job.

• advertisement

• capital

• income

• international trade

In order to start a business, a person needs a good idea, _____, and different kinds of resources.

• advertisement

• capital

• income

• international trade