KSA Review #3

Government does not need money to operate and provide services for their citizens.

Many colonists came to the New World to make the most of the opportunities they encountered.

What resource did the New England colonies use to make money?

if the demand is high but the supply is low on avacodos will the price go up

What is a market economy?

Explain why many colonists came to Kentucky?

what is the economy?

Where does the government get most of its money?

What is specialization

When Demand is High and Supply is low, Prices are High.

Kentuckians ALWAYS took advantage of opportunities and incentives to make money.

Often people were offered incentives to settle in various parts of the colonies. Which is an example of this?

If demand is high and supply is low, will the price of the product be high or low?

What colony/state did Kenticky grow from?

What is specialization?

Why did colonists settle in Georgia?

All of the following were ways for Kentuckians to make money during colonial times EXCEPT

When Supply is High and Demand is Low Prices are High.

The New England colonies were still dependent on the South for cotton that was spun in their factories

The British needed ships for the Navy that required a large demand for lumber/labor from colonists, because of this

When supply is low and demand is high, prices are high.

What is market economy?

Why did colonists settle in New England?

When the colonists were given an incentive to settle in America, what did it often cost them?

What are incentives?

If demand for a product is high, then the supply will by _______.

If the demand is high and the price is low, what will happen?

What powered the factories in New England during colonial times?

if the supply of something is high but the demand is low will the price go up?