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I. and E. Trades
| Question | Answer |
|---|---|
| Perishable goods like barley make poor forms of currency. What does "perishable" mean? | Susceptible to spoiling or being ruined |
| What attributes of gold and silver led to the creation of paper money? | Their bulky size and heavy weight |
| What is the difference between goods and services? | Goods are generally objects, while services are tasks or jobs. |
| Why are coins and paper money given number markings? | To indicate their value |
| Today, what gives the U.S. dollar its value? | The fact that everyone believes it has value |
| What is the exchange or trade of goods and services between different nations? | International Trade |
| What are items for sale or possessions that can be moved from place to place? | Goods |
| What is the act of helpful activities for people that can't do specific things for themselves, but are provided by others that have that skill they are paid for? | Services |
| What is considered something that is brought into a country from abroad for sale? | Import |
| What is considered something that is taken out of a country and is sold for money or trading purposes from that country? | Export |
| What is considered when trade is greater than the cost of something? | Nation Trade |
| What is an economy's ability to produce goods and services at a lower cost than its trading partner provides? | Comparative Advantage |
| What is the point of comparing prices from other prices from different stores or areas? | To figure out how you can get the most value for your money |
| If your phone service cost 5 cents per call, and you make 318 calls, how much do you owe the phone company? | $15.90 |
| If 100 eggs cost $5.00, how much would 25 eggs cost? | $1.25 |
| What is the most likely reason why someone might not choose the best deal between two options from any store or area they go to? | It may be cheaper to buy in large qualities, but you may only need a small quality |
| Graphs or charts are tools that help with what? | Organize Data |
| Which graph or chart does not have an x- and y-axis for a person to gather data from it? | Pie Chart |
| What are the 4 types of Graphs or Charts that are used for gather data and information about goods or circumstances? | Bar Graph, Line Graph, Pie Chart, Pictograph |
| Which kind of graph would best show how the price of any item has changed over time? | Line Graph |
Created by:
vacosta
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