Module 5 Practice Quiz (Geo)

Which of these is the main incentive for people to start a business?

raw materials needed to produce goods

human time, effort, skills, and talent needed to produce goods

money that a business uses to buy the items needed for the business to function

items such as tools, machines, factories, and office equipment needed for a business to function

Which of the following scenarios accurately illustrates the concept of economic interdependence?

A farmer sells milk produced from dairy cows. This is an example of the ________ industry.

A factory owner uses lumber to make furniture. This is an example of the ________ industry.

A company buys vegetables from several farmers, then sells them to a grocery store. This is an example of the ________ industry.

A restaurant sells food to customers. This is an example of the ________ industry.