Chapter 2 Review

Jasmine has a clothing store. She has decided to start exporting her products. What conclusion can you draw about Jasmine’s business?

• She will save money on shipping.

• She will find it easier to get resources.

• She will gain more customers.

• She will be able to make more products.

This picture shows someone __________.

• shopping local

• producing an item

• trading for what he needs

• exporting an item

Look at the picture. What capital resources are needed to produce what you see in the picture?

• knowledge about farming, animals

• tractors, plows, factories

• cows, chickens, seeds

• vegetables, animals

Example of a natural resource.

• tractor

• planting a tree

• tomato

• truck

Jerry Yang studied hard when he was in school. What is another way of describing what Yang did in school?

• investing in his human capital

• funding his education

• volunteering for a good cause

• increasing his capital resources

Write your answer on the lines. Define goods, services, consumers, and producers. Include examples of each.

Evaluate responses using AI:

OFF

Growing your __________ in a specific area can help you to find success in an occupation.

• human capital

• occupation

• investment

Look at the picture. What kinds of resources are shown in this picture?

• natural and capital resources

• human and capital resources

• human and natural resources

• capital and product resources

Look at the picture. Which word describes what you see in the picture?

• needs

• wants

• consumers

• producers

Amelia could only afford to buy one thing. She bought a new book instead of a video game. The video game is a(n) __________.

• benefit

• opportunity cost

• need

• trade off