Resources and Trade — Answer Key
Part A: Fill in the Blank
Write the missing word or number on each line.
1. Items you can touch and hold, like food and clothing, are called goods.
Goods are physical products you can touch, like food, clothing, or toys. They are different from services, which are actions people do for others.
2. Work done for others, like teaching or fixing cars, is called a service.
A service is work that one person does for another, like teaching or car repair. Unlike goods, you cannot hold a service in your hands.
3. When countries rely on each other for goods and resources, it is called interdependence.
Interdependence means countries depend on each other. No single country can produce everything it needs, so nations trade and rely on one another.
4. The United States exports technology products like computers to many countries.
The US is a world leader in technology, so computers are a major export. Other countries buy American-designed computers because of their advanced technology.
5. Copper is a natural resource that is mined from the earth.
Copper is a natural resource because it comes from the earth, not from people or machines. It is found in rocks underground and must be mined.
6. A tariff is a tax placed on imported goods.
A tariff is a tax that a government charges on goods coming in from other countries. Tariffs make imported items more expensive, which can encourage people to buy locally made products.
7. Doctors, teachers, and firefighters all provide services to their communities.
Doctors, teachers, and firefighters provide services because they do helpful work for others rather than making physical products to sell.
8. Countries that have large oil reserves often export oil to other nations.
Countries with large oil reserves produce more oil than their own people need, so they sell the extra oil to other nations through exports.
9. A crane used at a construction site is a capital resource.
A crane is a capital resource because it is a machine built by people to help construct buildings. Capital resources are manufactured tools that help produce goods or 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.
Goods
→ Physical items that can be bought and sold
Countries relying on each other for trade
Services
→ Work performed for others
A tax on imported products
Tariff
→ A tax on imported products
Physical items that can be bought and sold
Interdependence
→ Countries relying on each other for trade
Work performed for others
Correct matches: Goods → Physical items that can be bought and sold; Services → Work performed for others; Tariff → A tax on imported products; Interdependence → Countries relying on each other for trade.