AR History Chapt. 4

Question 1

Products or items that have economic value or satisfy a want

Answer 1

Goods

Question 2

Available items or goods or a naturally occurring supply such as petroleum

Answer 2

Resources

Question 3

The quality of being rare or difficult to obtain

Answer 3

Scarcity

Question 4

Abundance, excess, or leftover goods or money

Answer 4

Surplus

Question 5

A financial system in which goods, products, and many services are privately owned and operated (not by government) and in which businesses, trade groups, and organizations are encouraged and expected to compete for consumers and profit

Answer 5

Capitalism

Question 6

The total amount of money or revenue created in a state each year or the whole value of the state’s production of all goods and services each year

Answer 6

Gross State Product

Question 7

Portions, areas, parts, or subdivisions of a group or workforce

Answer 7

Sectors

Question 8

A system for exchange of goods and services whether through barter or buying and selling

Answer 8

Economy

Question 9

A structural division used to organize and manage groups of schools

Answer 9

District

Question 10

Taking place yearly, once per year

Answer 10

Annual

Question 11

Per unit of population, counted for each person or person by person

Answer 11

Per Capita