Soc. St Economic Review For Benchmark 2

371 views

Published on

Published in: Education, Economy & Finance
0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
371
On SlideShare
0
From Embeds
0
Number of Embeds
4
Actions
Shares
0
Downloads
4
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Soc. St Economic Review For Benchmark 2

  1. 1. Big Board Facts Welcome To
  2. 2. <ul><li>What  happens  when  people  cannot  have  everything  they  want? </li></ul><ul><li>   </li></ul><ul><li>When  people  cannot  have  all  the  goods  and  services  they  want,  they  must  choose  some  things  and  give  up   others .  ( SOL  1.8)   </li></ul><ul><li>  </li></ul>
  3. 3. <ul><li>All of the following are </li></ul><ul><li>natural resources except . </li></ul><ul><li> A. water </li></ul><ul><li>B. trees </li></ul><ul><li>C. gold </li></ul><ul><li> D. steel </li></ul>Show Answer
  4. 4. Answer:D: Steel
  5. 5. <ul><li>A farmer, a contractor, and a teacher are </li></ul><ul><li>what kind of resources? </li></ul><ul><li> F. human </li></ul><ul><li>G. capital </li></ul><ul><li> H. natural </li></ul><ul><li> J. economic </li></ul>
  6. 6. Answer: <ul><li>F Human Resources </li></ul>
  7. 7. <ul><li>  </li></ul><ul><li>Study Guide </li></ul><ul><li>GOODS,  SERVICES,  BUYERS,  SELLERS,  PRODUCERS   </li></ul><ul><li>SOL   1.7  Goods  and  services  satisfy  people’s  needs  and  wants.  People  are  both  buyers  and  sellers  of   </li></ul><ul><li>goods  and  services.   </li></ul><ul><ul><li>  </li></ul></ul><ul><li>Goods :   Things   people  make  or  use  to   satisfy  needs   </li></ul><ul><li>and  wants </li></ul><ul><li>  </li></ul><ul><li>Services:    </li></ul><ul><ul><li>Activities   that  satisfy  people’s  needs  and  wants   </li></ul></ul><ul><li>  </li></ul>
  8. 8. <ul><li>Which day in November is a day for </li></ul><ul><li>the recognition of and respect </li></ul><ul><li>for Americans who served in the </li></ul><ul><li>military? </li></ul><ul><li>A Thanksgiving Day </li></ul><ul><li>B Presidents’ Day </li></ul><ul><li>C Veterans Day </li></ul><ul><li>D Independence Day </li></ul>
  9. 9. Answer <ul><li>C Veteran’s Day </li></ul>
  10. 10. <ul><li>Which day in May is a day for the recognition </li></ul><ul><li>of and respect for Americans who died in </li></ul><ul><li>wars while they were serving in the military? </li></ul><ul><li>A Memorial Day </li></ul><ul><li>B Independence Day </li></ul><ul><li>C Presidents’ Day </li></ul><ul><li>D Flag Day </li></ul>
  11. 11. Answer: <ul><li>A: Memorial Day </li></ul>
  12. 12. Study Guide How  are  people  both  buyers  and   sellers?     People  are   buyers   when  they  use   money  to  purchase  goods  or  services.     People  are   sellers  when  they   receive  money  for  their  work  or  for  goods  or  services  they  provide
  13. 13. 5.Which person below became a leader and helped create equal rights for all people? A Martin Luther King, Jr. B Juan Ponce de Léon C Christopher Newport D George Washington
  14. 14. Answer: <ul><li>A: Martin Luther </li></ul><ul><li>King, Jr. </li></ul>
  15. 15. <ul><li>Which is an example of a person saving for the future? </li></ul><ul><li>A Getting money from a bank </li></ul><ul><li>B Buying food for the week </li></ul><ul><li>C Putting money in the bank </li></ul><ul><li>D Getting new toys at the store </li></ul>
  16. 16. Answer: <ul><li>C: Putting money in the bank </li></ul>
  17. 17. <ul><li>A woman baking and selling cakes is a— </li></ul><ul><li>F buyer </li></ul><ul><li>G consumer </li></ul><ul><li>H trader </li></ul><ul><li>J producer </li></ul>
  18. 18. Answer: <ul><li>J. producer </li></ul>
  19. 19. <ul><li>Because resources are limited , MOST people — </li></ul><ul><li>A always get everything they want </li></ul><ul><li>B must choose among the things they </li></ul><ul><li>want </li></ul><ul><li>C will trade to get everything they want </li></ul><ul><li>D produce the goods they want </li></ul>
  20. 20. Answer <ul><li>B must choose among the things they </li></ul><ul><li>want </li></ul>
  21. 21. <ul><li>Doctors, mail carriers, and teachers all provide — </li></ul><ul><li>F products </li></ul><ul><li>G services </li></ul><ul><li>H ideas </li></ul><ul><li>J goods </li></ul>
  22. 22. Answers <ul><li>G services </li></ul>
  23. 23. <ul><li>George and Mac want to barter . What do they need? </li></ul><ul><li>A Something to trade </li></ul><ul><li>B Money </li></ul><ul><li>C Something to sell </li></ul><ul><li>D Savings </li></ul>
  24. 24. Answer: <ul><li>A Something to trade </li></ul>
  25. 25. <ul><li>Buyer: </li></ul><ul><li>   </li></ul><ul><li>A  person  who  uses  money  to   purchase  goods  or  services </li></ul><ul><li>  </li></ul><ul><li>Seller: </li></ul><ul><li>   A  person  who   sells  goods  or   services </li></ul>
  26. 26. <ul><li>SOL  2.9        People  are  both  producers  and  consumers.   </li></ul><ul><li>  </li></ul><ul><li>Consumer :    </li></ul><ul><li>A  person  who   uses  goods  and  services   </li></ul><ul><li>Producer:    </li></ul><ul><li>A  person  who  uses  resources  to   make  goods  and/or  provide  services </li></ul>

×