Which TWO people are entrepreneurs?

Simone starts a car-washing business and hires her closest friends., Cole uses his money to buy art supplies & sells pictures to his classmates.

Why do countries create currency?

so people can buy goods and services

Georgia farms peaches. Hawaii grows pineapples. Which is an example of a voluntary exchange?

The two states trade fruits with each other.

What allows consumers in Georgia to be able to purchase fresh fruit year-round?

Fruit is shipped from other states and countries to stores in Georgia.

Why are entrepreneurs called “risk-takers”?

because they could lose all of their money starting a new business

Which of the following is TRUE about supply and demand?

If supply is greater than demand, then prices are lower.

Which of the following BEST completes the boxes?

Sharon makes quilts; Lucy buys the quilts.

Which of the following is an example of a human resource?

Charlene, the head chef at a restaurant

Why did Desmond and Tasha MOST LIKELY visit Pete's Ice Cream Parlor?

They do not know how to make ice cream.

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Economics

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Answers

1
Which TWO people are entrepreneurs?
Simone starts a car-washing business and hires her closest friends.
Rashad gets a job at the mall so he can earn money for a newskateboard.
Cole uses his money to buy art supplies & sells pictures to his classmates.
Tatiana mows the lawn every weekend because it is one of herchores.
2
A lumberjack is a _____ resource.
entrepreneurship
capital
natural
human
3
Who provided a service?
Desmond and Tasha
Pete and Sarah
only Pete
only Desmond
4
Why do countries create currency?
so people can pay taxes to the government
so people can trade labor for goods and services
so people can become wealthy
so people can buy goods and services
5
Georgia farms peaches. Hawaii grows pineapples. Which is an example of a voluntary exchange?
The two states tax the fruits to make more money.
The two states donate their fruits to each other.
The two states consume each other’s fruits.
The two states trade fruits with each other.
6
What allows consumers in Georgia to be able to purchase fresh fruit year-round?
Fruit does not spoil so stores can keep large amounts of it in warehouses.
Farmers in Georgia have learned how to grow fruit in frozen soil.
Temperatures are warm enough in Georgia for fruit to be grown all year.
Fruit is shipped from other states and countries to stores in Georgia.
7
Timber is a _____ resource.
human
natural
capital
entrepreneurship
8
Who was a consumer?
only Sarah
Pete and Sarah
Desmond and Tasha
only Tasha
9
A logging truck is a _____ resource.
human
capital
natural
entrepreneurship
10
If Layla spends her $ after she gets her February allowance, which item is the MOST expensive thing that she could buy?
a $20 shirt
a $5 bag of candy
a $15 pair of soccer shorts
a $10 book
11
Why are entrepreneurs called “risk-takers”?
because they could lose all of their money starting a new business
because they get charged more taxes than other business owners
because they combine land, labor, and capital to start a new business
because they are guaranteed success at their new business
12
Which type of productive resource are the furnaces?
human resources
entrepreneurs
capital goods
natural resources
13
Which of the following is TRUE about supply and demand?
If supply is greater than demand, then prices are higher.
If supply is equal to the demand, then prices are higher.
If supply is greater than demand, then prices are lower.
If demand is greater than supply, then prices are lower.
14
A chainsaw is a _____ resource.
natural
capital
entrepreneurship
human
15
Which of the following BEST completes the boxes?
Mike buys furniture; Diego makes the furniture.
Miguel saves money; Julio spends money.
Sharon makes quilts; Lucy buys the quilts.
Jamal earns an allowance; Larry works for his income.
16
What do human resources provide to businesses?
capital
income
labor
land
17
Claire loaded her truck with vegetables to sell at a local market. Which of the following BEST describes Claire's truck?
human resource
capital resource
natural resource
land resource
18
Based on the information in the passage, which item is LEAST important for Joseph to buy?
shoes
backpack
jacket
boots
19
Which type of productive resource is Luis?
a human resource
a capital good
an entrepreneur
a natural resource
20
Based on the information in the passage, which item is MOST important for Joseph to buy?
boots
backpack
jacket
shoes
21
Which of the following is an example of a human resource?
Colin's hammer that he uses to fix his roof
Aluminum cans, which Tyler collects to recycle
Charlene, the head chef at a restaurant
The greeting cards Sara sells in her store
22
Why did Desmond and Tasha MOST LIKELY visit Pete's Ice Cream Parlor?
They do not know how to make ice cream.
They were friends with Sarah and Pete
They wanted to provide a service.
They each wanted to eat a banana.
23
Which type of productive resource is the iron ore?
a natural resource
an entrepreneur
a capital good
a human resource
24
Jennifer works for the Coca-Cola company as a truck driver. What type of resource is Jennifer?
natural resource
human resource
capital resource
land resource

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