The Big Picture of Economics

the study of that deals with how money, goods, and services are produced, distributed, and used among people.

• marketplace

• economics

• transaction

• entrepreneur

The genre of The Big Picture of Economics is expository because it explains facts about money. It also has text features such as:

• sidebars

• pronunciations

• headings

• glossary

In a country with a free market, the value of your merchandise is determined by what?

• Newton's Laws

• a computer

• the laws of supply and demand

• traffic laws

Why did people start trading long ago?

• they were too bored and it seemed fun

• if you could collect many gold coins then you could buy bigger farm animals

• people wanted to travel around the world and tell stories

• if you were better at something you would have extra to exchange for what you did not have or were not good at making

Which of the following helps people decide what to buy?

• opportunity cost

• supply

• demand

• price

In a free market economy, as supply goes down, what happens to prices?

• prices go down

• prices go sideways

• prices go up

• supply does not affect prices

Identify the main theme of 'The Big Picture of Economics'.

• The importance of saving money

• The role of government in the economy

• Understanding economic principles

• The history of trade

Which literary device is primarily used in 'The Big Picture of Economics' to explain complex ideas?

• Metaphor

• Simile

• Analogy

• Personification

What is the primary purpose of 'The Big Picture of Economics'?

• To entertain readers with stories

• To inform readers about economic concepts

• To persuade readers to invest in stocks

• To narrate the history of economics

In 'The Big Picture of Economics', which term refers to the total value of goods and services produced in a country?

• Gross Domestic Product

• Net Worth

• Market Capitalization

• Economic Output