Week 28/29

People choose the work they do based on what?

• bartering and selling

• geography and natural resources

• trading and specialization

• production and specialization

What is the definition of economy?

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

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

• Economy is the exchange of goods in trade

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

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

• Agriculture

• Tourism

• Specialization

• Industry

Agriculture depends on _________.

• electricity

• specialization

• tourism

• the environment

Animals need climates that provide ______ for them to live.

• temperature and soil

• soil and rock

• rainfall and soil

• food and water

What are services?

• Economic activity including physical and virtual work done for others

• Economic activity including producing goods

• Economic activity including the transportation of goods

• Economic activity including the production of basic resources

_______ is selling goods to another country.

• Domestic trade

• Importing

• Exporting

• Manufacturing

Why do countries trade with other countries?

• They are nice

• They like their people

• They don't want to be hungry

• They don't make everything their citizens need

Trade between two countries is called ________.

• International trade

• Domestic trade

• Import trade

• Export trade

When does trade occur?

• When crops are grown in a certain environment

• When goods are transported to factories

• When one country purchases goods from other countries

• When goods and services are scarce