The East Lesson 1 and 2

 Who owns the factors of production in a market economy?

• bank tellers

• the government

• elected officials

• individuals, not the government

Which of the following is a factor of production?

• profit

• people

• banking

• competition

What is the exchange of resources or money for goods and services called?

• trade

• choices

• banking

• command

What role does the government play in a MARKET economy?

• It keeps the profits from sales.

• It tells businesses what to make.

• It sets the prices for goods and services.

• It lets people and businesses decide what to make.

Which of the following can be made using natural resources from FORESTS?

• iron

• glass

• grain

• paper

 Which of the following describes the climate in the East?

• It never rains.

• Summers are cold.

• There are two seasons.

• The climate is temperate.

For what did people who settled the East use the area's bodies of water?

• diving for sponges

• power and shipping

• protection from storms

• sources of Appalachian rocks

Where is the coastal plain located?

• north of Canada

• west of the Mississippi River

• east of the Appalachian Mountains

• west of the Appalachian Mountains