Unit 3 Study Guide

Why did Michigan become the home of "The Motor City"?

• Because of its location on the Great Lakes

• Due to the presence of major automobile manufacturers

• Because of its rich cultural history

• Due to its advanced technology

An example of a natural resource is:

• Water

• Plastic

• Concrete

• Steel

What is an example of a capital resource?

• A factory building

• A natural forest

• A software program

• A piece of land

When diverse groups immigrated or migrated to Michigan, it impacted ...

• the cultural of the Michigan.

• the economics of Michigan.

• the population of Michigan.

• all of the above.

Which of the following are characteristics of a Market Economy?

• Private Property

• Truth

• Exchange

• Competition

• Incentive

Give an example of a negative incentive.

• A fine for littering

• A bonus for good performance

• A reward for recycling

• A certificate of achievement

Give an example of a positive incentive.

• sales at Target

• A penalty for late work

• A warning for speeding

• A fine for turning in a book late

Some of the push factors that made people leave their country and homes to live somewhere else include:

• economic problems

• war

• freedom

• discrimination

When demand goes ________, the price goes ____________. When demand goes down, the price goes __________.

Diverse groups immigrating or migrating to Michigan impacted Michigan's culture by:

• introducing their foods

• not talking to others

• introducing their music

• introducing cars