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SS - Trimester 2 Flashcards | StudBud

Explore/SS - Trimester 2

A way of life shared by a group of people

Our country is diverse because different people came for different reasons bringing with them their cultures.

SS - Trimester 2

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Questions 10

Answers

1
Our country is diverse because different people came for different reasons bringing with them their cultures.
False
True
2
A way of life shared by a group of people
culture
diverse
language
supply
3
An economy is ....
a free market
total amount of a good or service available to buy
tasks you pay someone to do for you
system in which goods and services are bought and sold
4
A demand is the total amount of a good or service that customers are willing to buy at all prices
False
True
5
We wear light clothing in the summer because the
the climate is warm
It attracts the heat
the climate is cold
6
Made up of different groups of people and cultures
profit
scarcity
diverse
culture
7
A free market economy is
Only sells fruits
choices are left up to the buyer and seller
Everything is free at the market
HAVE to buy and sell certain things
8
Items that can be bought, sold, and traded such as food, clothing, books, and computers
profit
good
demand
service
9
A supply is
amount of money earned by a business after costs are removed
total amount of a good or service available to buy
when people want more things than they can have
10
Why would sellers raise their prices when the demand is high and supplies are low (think TP)?
They know people will pay more for a high demand item
Want to sell less
Government tells them to