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Economy Quiz
Economy Quiz
19
Social Studies
4th Grade
09/22/2013

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Cards

Term
--- areas are cities or near cities.
Definition

Urban

Term

Why did urban areas grow?

 

Definition

Urban areas grew as businesses created more jobs.

Term
Name the 3 changes in the US population that has happened over the history of our country.
Definition

1.  The US population has increased and become more diverse.

 

2.  The US population has become more urban than rural.

 

3.  People have moved from northern and central parts of our country to southern and western parts.

Term
-- are towns or small cities near a large city.
Definition
Suburbs
Term
--- areas are places where people live out in the country side.
Definition
Rural
Term

The United States has a

---  ---

economy.

Definition
free market
Term
What is another name for a free market economy?
Definition
free enterprise economy
Term
Describe a free market economy.
Definition
In a free market economy people can make, sell, or buy almost anything they want.
Term
--- is the money that a business has left after it pays its bills.
Definition
Profit
Term
--- is the amount of a product or service that is avalable.
Definition
Supply
Term
--- is the amount of a product or service that people want and are willing to pay for.
Definition
Demand
Term
When is the demand for a product high?
Definition
When many people want to buy the product
Term
What are the main activities that make up an economy?
Definition

producing,

buying,

selling

and trading

 of goods and services

Term
We make economic choices.  When you give up one thing to buy another, you are making a trade off.  What you do not buy is called the --- cost.
Definition
opportunity
Term
--- is the making of products which is mostly done in factories.
Definition
Manufacturing
Term
In the past the main economic activity was ---.
Definition
agriculture
Term
What is the history of economic activity in the United States?
Definition

1.  In the past the main economic activity was agriculture.

 

2.  Later it became manufacturing.

 

3.  Today service industry is the largest part of our economy.

Term
--- industries are businesses in which people are paid to do things for other people.
Definition
Service
Term
What are some jobs that are service jobs?
Definition
nurses, teachers, store clerks, lawyers, plumbers, police, firefighters, government workers
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