Which of the following is true?

Michigan manufactures many different kinds of goods.

What does specialization mean?

People, regions and countries make certain kinds of goods.

In order to have a strong future what does Michigan have to do?

Michigan has to make good use of natural resources.

Because people specialize they have to

trade to get what they do not make

Which of the following would probably help Michigan most in the future?

Building wind turbines for wind farms

Which of the following is true about Michigan and trade?

Michigan trades with many different states and countries.

What is true about farming in Michigan?

Farming is an important economic activity of Michigan.

Why does the state of Michigan collect fees, fines and taxes?

Because it has to have a way to pay services.

What causes scarcity?

Resources are limited but people's wants are unlimited.

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ECSD Michigan Economics Third Grade

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Answers

1
Which of the following is true?
Michigan manufactures many different kinds of goods.
Michigan manufactures only cars and car parts.
Michigan only farms.
Michigan manufactures mainly furniture and computers.
2
Which of the following is an example of a human resource?
water
a swamp
a factory
a worker
3
Herby could have pizza or a salad. He decided to have pizza. What was Herby’s opportunity cost?
nothing
hot dog
salad
pizza
4
Which of the following is a public service provided by the government of Michigan?
the State Police
the Detroit Tigers baseball team
Walmart
Michigan National Bank
5
What does specialization mean?
People, regions and countries make goods but no services.
People, regions and countries make too many goods.
People, regions and countries only make special goods.
People, regions and countries make certain kinds of goods.
6
In order to have a strong future what does Michigan have to do?
Michigan has to stop farming.
Michigan has to just make cars.
Michigan has to stop trying to find new things to make.
Michigan has to make good use of natural resources.
7
Where do you find the most manufacturing in Michigan?
near big cities
n the center of the state
in the Upper Peninsula
where there is not much snow
8
When we study about how people use resources to make goods and services, what are we studying?
geography
economics
government
history
9
Because people specialize they have to
give goods away.
trade to get what they do not make
borrow money to buy goods.
give up all the goods they do not make.
10
Which of the following would probably help Michigan most in the future?
Selling Great Lakes water to people who need it
Building wind turbines for wind farms
Building very large cars with big gas engines.
Finding a way to get oranges to grow in Michigan
11
Which of the following is true about Michigan and trade?
Michigan only trades with one or two states.
Michigan trades with many different states and countries.
Michigan has stopped trading with other places.
Michigan only trades with China
12
Which of the following is an example of a natural resource?
a worker
a factory
water
a swamp
13
What is true about farming in Michigan?
Michigan is so cold there is not much farming.
All of the farming is done in the Upper Peninsula.
Michigan only grows celery, corn and apples.
Farming is an important economic activity of Michigan.
14
Why does the state of Michigan collect fees, fines and taxes?
Because the other states won’t give Michigan any money.
Because it has to have a way to pay services.
Because the citizens of Michigan do a lot of bad things.
Because the people who run the state want to get rich.
15
Because of scarcity people can't have everything they want. Because of this people have to
make all their own goods
save all their money
make choices
learn to be selfish
16
What causes scarcity?
Resources are limited but people's wants are unlimited.
People don't want to work hard.
People are greedy.
There is not enough work for everybody to do.
17
Which of the following is an example of a capital resource?
a factory
water
a swamp
a worker
18
Which of the following is the newest thing to be found in Michigan?
wind farms
iron mines
apple orchards
car factories

ECSD Michigan Economics Third Grade Flashcards | StudBud