Economics and Personal Finance

Amy loaded her truck with vegetables from her farm to sell at the grocery store. Which of the following BEST describes Amy's truck?

• land resource

• capital resource

• natural resource

• human resoard

Will works for Chick-fil-A as a truck driver. What type of resource is Will?

• a capital resource

• a human resource

• a natural resource

• an entrepreneurial resources

What do human resources provide to businesses?

• land

• capital (money)

• income (money given to them for working)

• labor (they work)

What type of productive resource is grass?

• a capital resource

• an entrepreneur

• a human resource

• a natural resource

On weekends, John pulls his lawnmower behind his bike and mows peoples' yards for a fee (money). Which of the following BEST describes John?

• a natural resource

• a capital resource

• an entrepreneur

• a competitor

Why do entrepreneurs take risks?

• to make a profit (money)

• to pay taxes

• to get elected

• to gain knowledge (to get smart)

Where does the money come from to pay for a new city park for everyone to use?

• the city paid for the park with taxes paid by the citizens

• the city collected donations (people give money freely) from the citizens

• the mayor paid for it from their own bank account

Which of the following is provided by the government using money from taxes for EVERYONE to use?

• barber shop (a place to get a hair cut)

• police force

• one grocery store

• one clothing store

Georgia farms a lot of peaches. Peaches do not grow well in Mexico. Mexico grows avocadoes, but Georgia does not. How do the two states meet their needs?

• The two states consume/eat each other's fruits

• The two states trade fruits with each other.

• The two states donate their fruits to each other.

• The two states tax each other to make more money.

Which of the following are true about supply and demand?

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

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

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

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