Unit 5 Word Wall Economics

Fill in the blank: Agricultural industries are businesses that focus on growing crops and _________.

• processing food
• manufacturing machinery
• raising livestock
• selling seeds

What is the definition of Manufacturing Industries?

• A) A business in which people make finished products from raw materials

• B) A business in which people provide services

• C) A business in which people sell raw materials

• D) A business in which people trade goods

Fill in the blank: Retail industries are businesses that sell directly to ________ customers.

• final

• wholesale

• industrial

• corporate

What are service industries?

• Businesses that provide goods

• Businesses that provide services rather than goods

• Businesses that manufacture products

• Businesses that sell products.

What are wholesale industries?

• Businesses that sell to consumers

• Businesses that sell to businesses

• Businesses that manufacture goods

• Businesses that provide services.

What does GDP stand for?

Which of the following is a component of GDP?

• Consumption

• Investment

• Government Spending

• All of the above

True or False: GDP measures the value of all goods and services produced within a country in a single year.

• True

• False

Fill in the blank: GDP includes Consumption, Investment, Government Spending, and ________.

• Net Exports Expenditures

• Imports

• Exports

• Savings

What does the term 'Barter' mean?

• The exchange of one good or service for another

• The use of money to buy goods

• The saving of resources for future use

• The production of goods for sale