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Which of the following is a reason why a country would TRADE with another country?

What is SUPPLY?

ECONOMICS REVIEW

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Questions 14

Answers

1
What is SUPPLY?
the color of the product
how much of a product people want
the size of the product
the amount of a product produced
2
Which of the following is a reason why a country would TRADE with another country?
BOTH yellow and blue!
It is so much fun!
to send resources to another country
to get a resource that they need
3
Which of the following is an example of a good?
a haircut
a car wash
going to the dentist
sneakers
4
Which of the following is NOT a natural resource?
cotton
Doritos
coal
trees
5
Who invented the telephone?
Alexander Graham Bell
Mrs. Carola
Pablo Picasso
Steve Jobs
6
Which example below is a WANT?
medicine
food
a new laptop
toothbrush
7
Which example below is a NEED?
shelter
video games
trampoline
basketball
8
Which of these jobs no longer exists?
servant
farmer
lamplighter
teacher
9
What happens to the price of the product if the demand is HIGH and the supply is LOW?
the price stays the SAME
the price goes DOWN
the price goes UP
there will be a sale on the product
10
What is AGRICULTURE?
farming
selling things
fishing
making things in a factory
11
Which of the following is an example of a service?
a bicycle
a treehouse
a skateboard
mowing someone's lawn for money
12
The invention of railroads was an improvement over using _________for transporting people and goods.
cows
donkeys
horses
chickens
13
What is FERTILE land?
land that has a lot of mountains
land that is NOT good for growing crops
land that has a lot of gems
land that is good for growing crops
14
What happens to the price of the product if the demand is LOW and the supply is HIGH?
the price goes DOWN
the price goes UP
the price stays the SAME
there is no more product available