Resources and Economy

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 wealth or resources of a country, state, or region.

• Economy is the exchange of goods in trade.

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

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

• tourism

• agriculture

• specialization

• industry

Agriculture depends on __________.

• electricity

• the environment

• specialization

• tourism

Animals need climates that provide __________ for them to live.

• food and water

• temperature and soil

• rainfall and soil

• soil and rock

What are services?

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

• types of economic activity including producing goods

• types of economic activity including the transportation of goods

• types of economic activity including the production of basic resources

One example of a service is __________.

• growing a crop like peaches

• raising cattle for beef

• making a product like tires

• 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

• economic activity with the production of services

• activity involving marketing and entertainment

• activity involving transportation and public safety

What is a product in an economy?

• a manufactured good

• a natural resource

• an idea