Resources and Trade — Answer Key
Part A: Fill in the Blank
Write the missing word or number on each line.
1. Goods brought into a country from another country are called imports.
Imports are goods purchased from other countries and brought into the home country.
2. Goods sent from one country to another for sale are called exports.
Exports are goods produced domestically and sold to other countries.
3. The United States imports oil from countries like Saudi Arabia.
The US imports large amounts of oil from oil-producing nations in the Middle East and elsewhere.
4. Countries trade because no single country has all the resources it needs.
No nation has every resource it needs, so countries specialize and trade for what they lack.
5. A consumer is a person who buys goods or services.
A consumer purchases goods or services for personal use.
6. A producer is a person or company that makes goods.
A producer creates or manufactures goods for sale or use.
7. Iron ore is a natural resource used to make steel.
Iron ore is a mineral found in nature — it is a natural resource.
8. Computers in an office are examples of capital resources.
Computers are manufactured tools used in production — they are capital resources.
9. Countries use money to pay for goods they import from other nations.
International trade uses currency (money) to pay for imported goods and services.
Part B: Matching
Match each item on the left to the correct answer on the right.
1. Match each item to its correct answer.
Natural resource
→ Lumber from a forest
A skilled carpenter
Human resource
→ A skilled carpenter
Wind energy
Capital resource
→ A delivery truck
Lumber from a forest
Renewable resource
→ Wind energy
A delivery truck
Natural resource = lumber from a forest; human resource = a skilled carpenter; capital resource = a delivery truck; renewable resource = wind energy.