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WorksheetsMichigan Economics
Total questions: 10
Worksheet time: 5mins
What is the definition of scarcity?
When there is too little of a good or resource.
When there are several haunted houses next to each other.
When the price of a good or resource goes down.
When there is more of something than there once was.
Which answer choice lists 3 correct examples of a natural resource?
Lumber, sugar, bread
Wind, whales, plants
Labor, equipment, office supplies
Coal, clothes, timber
By the end of the logging boom around 1900, the forest area of Michigan was what fraction of its original area (prior to the lumber industry)?
1/2
1/4
1/6
1/10
What are the 3 major forest habitats of Michigan?
Michigan, Superior, Huron
Warbler, Robin, Chickadee
Pine, Oak, Swamp
Wood, Lumber, Timber
What do entrepreneurs do? There might be more than one correct answer.
Use natural resources, human capital, and capital goods.
Take financial risks.
Spend money to make more money.
All of the above.
Who first conserved forest habitats by establishing forest reserves?
Theodore Roosevelt
Henry Wadsworth Longfellow
Franklin Roosevelt
Mr. Anderson's grandfather
Roy Oliver was
A lumberjack who lived an worked in Frankfort, MI, during the logging boom.
A giant, mythical lumberjack and American folk hero.
An entrepreneur who lived and worked in Bay City, MI, during the logging boom.
A famous English medical doctor.
Enough wood had been logged by 1897 for a pile four feet high and eight feet wide to wrap around the world 50 times.
True
False
Which of the following were effects of clear-cutting, the removal of all the trees from a habitat, especially in Michigan during the logging boom? There might be more than one answer.
Sandy soil.
Economic scarcity.
Quick money for entrepreneurs.
All of the above.
Which of the following statements about log marks in Michigan during the logging boom are true? Choose the best answer.
Log marks were used to show ownership.
Thousands of different log marks were used by Michigan loggers during the logging boom.
Log marks were sometimes made by a hammer with the company's mark on one end.
All of the above.
