Week 28 : Economy

People choose the work they do based on what?

• bartering and selling

• geography and natural resources

• trading and specialization

• production and specialization

When a region cannot produce the goods they need, they can trade with other regions that have a ______.

• surplus

• need for the same goods

• deficit

• better economic plan

An economy based on the process of growing crops and raising animals is __________.

• tourism

• specialization

• agriculture

• industry

Agriculture depends on _________.

• electricity

• specialization

• the environment

• tourism

Animals need climates that provide _______ for them to live.

• food and water

• rainfall and soil

• temperature and soil

• soil and rock

What is the definition of economy?

• Economy is an industrial site that is filled with machinery where workers manufacture items

• Economy is the exchange of goods in trade

• Economy is the wealth or resources of a country, state, or region

• Economy is the use of money and currency to do business

What are services?

• types of economic activity including physical and virtual work people do for others

• types of economic activity including the transportation of goods

• types of economic activity including producing goods

• types of economic activity including the production of basic resources

One example of service is ________.

• growing a crop like peaches

• making a product like tires

• raising cattle for beef

• marketing and design

_______ need access to oceans, rivers, or roads in order to transport goods produced through industry as well as provided power and electricity.

• currencies

• resources

• factories

• environments

An industry is an _________.

• economic activity with the production of goods in factories

• activity involving marketing and entertainment

• economic activity with the production of services

• activity involving transportation and public activity