2nd Grade Q4 Review

John crafts handmade tables to sell at his workshop. Lisa wants to purchase a table from him. Who is the producer and why?

• Lisa is the producer, because she buys a product.

• John is the producer, because he creates a product.

• John is the consumer, because he creates a product.

• Neither one of them is a producer.

What role do consumers play in economic growth?

• Consumers have no impact on economic growth, only businesses do.

• By purchasing goods and services, consumers create demand that leads to job creation and economic expansion.

• Neither consumers nor businesses contribute to economic growth.

• When businesses produce goods, consumers have the opportunity to make purchases.

In what way can an individual be both a producer and a consumer in the market?

• By only purchasing goods for personal enjoyment.

• By exclusively creating products for others.

• By manufacturing products for others and purchasing goods for personal use.

• By neither creating nor purchasing any goods.

How does exporting goods influence the economic growth of the United States?

• Exporting goods leads to a decrease in the United States' revenue.

• Exporting goods contributes to an increase in the United States' revenue.

• Exporting goods has no impact on the United States economy.

• Exporting goods means the United States imports goods from other countries.

What is a common use of capital resources?

• To go on a vacation

• To construct roads and bridges

• To read a book

• To plant a garden

How do people use human resources to provide goods and services?

• Ovens cook cakes for bakers.

• The rain makes plants grow.

• People work in factories to make clothes.

• Humans and animals eat vegetation.

People use natural resources to create goods and services in which of the following ways?

• By growing crops and mining minerals

• By watching television and reading books

• By playing sports and listening to music

• By painting pictures and writing stories

Melissa went to college to become a doctor. Why should Melissa specialize in one job, instead of learning many different jobs?

• To become an expert

• To have more free time

• To earn more money

• Because of the scarcity of resources

If Tom does not have enough money to buy a toy he really wants, which statement describes a responsible way he can get the toy he wants?

• He should buy a cheaper toy he doesn’t want.

• He should take toys from his friends.

• He should ask his friends for money to buy the toy.

• He should work hard and save money to buy the toy.

Based on the map, which product is likely to be exported from Louisiana?

• cotton

• rice

• chocolate

• salt