28 questions
In a market economy, the characteristic of a product that is most likely to be determined by the interaction of supply and demand is the product's
Price
Quality
Production cost
Usefulness to society
If supply of a product is abundant, but demand is low, how would the price be affected?
It would go up
It would go down
It would stay the same
It would fluctuate
If a drought severely reduces the amount of corn available to consumers, what would you expect to happen?
The demand for corn would go down
The price of corn would stay the same
The price of corn would go down
The price of corn would go up
The West African kingdoms of Ghana, Mali, and Songhai experienced economic prosperity because they all
solved tribal conflicts within their empires
traded with many other nations
controlled vast reserves of oil and gold
maintained highly structured feudal systems
Between A.D. 800 and 1600, the West African city of Timbuktu became prosperous with the trading of
rifles and diamonds
gold and salt
spices and silk
iron ore and cola
The wealth and power of Mali's ruler, Mansa Musa, were significant because they contributed to the
spread of Islam
spread of Christianity
start of the Crusades
spread of Buddhism
Why did trading networks like the Silk Road develop?
Certain resources were not available in all areas.
The trails were used for communication between groups.
People wanted to take land and to keep control of that land.
Travelers enjoyed exploring nearby lands after trading for spices.
Which statement best shows how trade routes influenced ancient societies?
As travel over land became easier, trade by water became unnecessary.
As different civilizations traded goods, they also shared cultural values and beliefs.
As trade developed, long-distance travel became safe and easy for each civilization.
As silk grew popular, it became a common material used in clothing across civilizations.
There came from India, certain monks...they promised the emperor in an interview that they would provide materials for making silk so that never should the Romans seek business of this kind from their enemy the Persians, or from any other people whatsoever...Thus began the art of making silk from that time on in the Roman Empire.
“Procopius: The Roman Silk Industry, c. 550,” modernized by Jerome S. Arkenberg
Based on the text above, how did the negotiations between the Indian monks and the Roman emperor affect the silk trade in the Roman empire.
The Roman Empire started to import silk from India rather than Persia.
The Indian monks offered to establish a route for silk trade with Persia.
The Roman Empire no longer had to import silk because it could be produced locally.
The Persians offered a better price for silk, so the Romans began to trade with them.
-Trade routes linking West Africa and North Africa required the shipment of goods across the hot, dry Sahara. It was difficult to carry these goods along these trade routes.
-Domesticated camels were brought to the Sahara. The camels could go for long stretches without drinking, survive extreme temperatures and haul heavy loads.
Based on the above text, how did the camels affect the transport of goods across the Sahara?
Traders were able to use camels to stop trans-Saharan shipments of goods.
Traders were able to drink the milk from camels during their journey.
Camels made travel across the desert more reliable and safer.
Camels slowed transport by requiring frequent drinks of water.
The Roman forum was located at the center of Ancient Rome. It was a gathering place where public events were held. Soon the forum grew to also include merchant shops, temples and government buildings. The forum became the religious, economic and government center for Rome.
Based on the above information, how did the forum contribute to Roman civilization?
Instead of being solely focused on commerce, the forum also fulfilled cultural needs of the Romans.
The forum provided cheaper prices for Romans than other markets.
Government buildings were the focus of the forum, showcasing the power of the Roman government.
Forum ruins can still be found today, because they were built so well.
The Babylonian civilization had access to few natural resources. Because of their geographic location in Mesopotamia, the Babylonians could not acquire timber, metal, wine or stone for themselves To obtain these, the Babylonians had to trade goods they had produced such as grain and textiles.
According to the passage, how did scarcity lead to specialization in Mesopotamia?
They had to choose among many abundant resources.
They had to find other regions with the same resources.
They had to move to other regions because of scarcity.
They had to produce goods to trade for scarce resources.
In ancient Mesopotamia, the Tigris and Euphrates Rivers surrounded an area called the “Fertile Crescent.” What lasting effect did these rivers have on trade in ancient Mesopotamia?
They made transport of agricultural goods profitable.
They made the Fertile Crescent difficult to reach for trade.
They made transportation difficult to ancient Mesopotamians.
They made neighboring areas compete with Mesopotamia.
Although each ancient civilization specialized in different resources, which resource was used by all civilizations pictured above?
Ocean navigation
River systems
Dry climates
Mountain resources
The Ancient Mesopotamians used the Tigris and Euphrates rivers to transport goods for trade. They made three different types of boats using reeds, timber and animal skins. They transported flax, copper, limestone and textiles. Which was a human resource for the Mesopotamians?
Boats
Timber
Copper
Merchants
Middle Eastern merchants and traders traveled on eastward trade routes carrying goods such as colored glass or white jade that were unavailable farther east. They would trade these goods for other goods. This is an example of
A trade barrier.
The democratic system.
The barter system.
A trade agreement.
Which of the following best explains why Ancient Greeks were more dependent on fishing than farming as their source of food?
The Ancient Greeks preferred to eat fish over grains and other crops.
Much of the land in Greece was not suitable for farming.
Many crops could not grow in Greece because the climate was too cold.
Few people in Greece had the skills necessary to be productive farmers.
In the ancient Roman Republic, Mount Etna and Mount Vesuvius provided many different resources. They were rich in timber and fertile soil from volcanic ash. The Tiber River provides salt deposits and iron. Based on these resources, trade in the Roman Republic most likely specialized in
Gold and jewels
Bronze and ceramics
Agriculture and metalwork
Textiles and spices
Merchants and traders along the Silk Road made large profits. Why was this trade also profitable for towns and cities along the route?
Businesses in the towns and cities profited from travelers.
Traders and merchants created a shortage of goods and services.
The goods and services stayed in the cities along the Silk Road.
Most of the cities along the Silk Road used the barter system.
The ancient Romans made many improvements to their empire, such as building canals linking bodies of water, as well as building roads and ports. Which of these was the most likely result of the building projects?
Flooding created a lot of damage throughout the region.
Trade began expanding throughout the Roman empire.
People used these as transportation to migrate out of the area.
Fighting began over control of these improvements.
In ancient Greece, merchants and traders searched the Mediterranean Sea for natural resources like iron for tools, silver for coins, clay and marble for statues, and timber for houses and ships. These resources were scarce and found in different places. What effect did the merchants have on the region?
They created more scarcity of natural resources in the region.
They contributed to the economic isolation of each different region.
They discouraged trade among regions outside the Mediterranean.
They connected different regions and helped develop trade.
In the cartoon, which character seems to have a better understanding of supply and demand? Explain your choice.
The customer because she accurately states there isn't demand.
Calvin the business owner because he demands a profit.
Calvin the business owner because he has all of the supplies.
The customer because she loves lemonade.
Which of the following is NOT a type of economic system?
Mixed economy
Public market economy
Market economy
Command economy
There is little or no government control in a _____________ economy.
Command
Market
Mixed
Which type of economic system does North Korea have?
Market
Command
Traditional
The tribe relied on hunting and farming for food. The boy knew he would be a farmer just like his dad had been. What kind of economic system does this describe?
Market
Command
Mixed
Traditional
What was Rome’s main item for trade with China?
silk
pottery
gun powder
fireworks
Which of the following best describes why Ancient Romans built aqueducts?
To enable people to ship goods from the countryside to the city.
To provide an environment in which fish could live and could easily be caught.
To deal with the fact that Rome did not have an adequate supply of fresh water within the actual city.
To provide recreational areas in which people could do water sports.