Social Studies 5th six weeks

Consumers’ desire to buy a particular thing or service

• Supply

• Demand

• Competition

• Free Enterprise

The amount of goods or services that are available

• Demand

• Supply

• Resources

• Services

The thing you have to give up to get the thing you want

• Scarcity

• Free Enterprise

• Opportunity Cost

• Demand

Which answer choice best describes the role of American entrepreneurs in the late nineteenth and early twentieth centuries?

• American entrepreneurs started the labor movement in the United States to improve working conditions.

• American entrepreneurs were government employees who helped inventors bring their ideas to the marketplace.

• American entrepreneurs were business people who took risks in creating new businesses, some of which succeeded.

• American entrepreneurs were scientists who studied the impact of new inventions on American society.

Suppose everyone in school wants to buy a pair of the latest style of shoes. Which of the following is most likely to happen?

• The price will drop because businesses will want consumers to have the shoes.

• Consumers will buy lots of shoes because the prices will go down as demand goes up.

• Consumers will stop wanting the shoes because they will not want to compete for them.

• The price will go up because consumers will pay higher prices for something so desirable.

In a free enterprise system, who or what makes most of the decisions on what to produce and what price to charge?

• Banks

• Private people

• The government

• Businesses

Urbanization created crowded, sometimes dirty cities. Assembly line jobs could be repetitive and boring. Steel production sometimes polluted air and water. These are all examples of —

• Benefits of rapid growth

• Mass production

• Negative effects of rapid growth

• Technological innovations

Moving from one’s homeland to live in another place. What is the term?

• Urbanization

• Immigration

• Industralization

• Labor Union

An organization formed by workers to provide for better working conditions. What is the term?

• Strike

• Immigration

• Urbanization

• Labor Union

A building with several small apartments. What is the term?

• Apartments

• Government

• Tenements

• Union