Notes

What was the most likely effect of scarcity on an ancient trade good, such as ivory?
Scarcity created a surplus of ivory.
Scarcity reduced the supply of ivory..(correct)
Scarcity increased the supply of ivory.
Scarcity decreased the demand for ivory.

What is the role of the government in a command economy?
The government makes all economic decisions.(correct)
The government allows private ownership of resources.
The government gives individuals the power to set prices.
The government encourages competition to produce goods.

How did the conquest of new lands most directly contribute to economic growth?
Conquests resulted in the rise of new empires.
Conquests led to the acquisition of new labor and capital.(correct)
Conquests offered excitement and adventure to soldiers.
Conquests sped up the development of military technologies

.What allowed currency in the ancient world to work as a tool for the exchange of goods?
It represented an agreed-upon value.(correct)
It represented an amount of available resources.
It was used as a standard measurement of goods.
It demonstrated how much people would pay for a product.

Which statement best describes the relationship between resources and military conquest in the ancient world?
Wealthy civilizations suffered fewer invasions.
Wealthy civilizations conquered neighboring areas.(correct)
Poor civilizations aggressively expanded into nearby lands.
Poor civilizations were less tempting targets for aggressive neighbors.

What is opportunity cost?
the limited availability of goods or services
a benefit lost when choosing between two options(correct)
the resources used to produce finished goods or services
a system of directly exchanging goods or services for other goods or services