Civil War Exit Ticket
| # | Answer |
|---|---|
| 1 | Economics is the study of how people use resources, goods, and money to meet their needs and wants. |
| 2 | A resource is something people can use to make goods or provide services. |
| 3 | A good is a physical item that people buy or use. |
| 4 | A service is work done for someone else. |
| 5 | Scarcity means there are not enough resources to meet all wants. |
| 6 | Supply is how much of a product is available. |
| 7 | Demand is how much people want a product. |
| 8 | War can reduce supply by damaging farms, factories, roads, and trade routes. |
| 9 | War can cause prices to rise if goods become harder to get. |
| 10 | The Civil War disrupted trade between the North and South. |
| 11 | Railroads helped move soldiers, supplies, and goods quickly. |
| 12 | Farms produced food needed for soldiers and civilians. |
| 13 | Blockades made it harder for the South to trade cotton and receive supplies. |
| 14 | Northern factories could make weapons, uniforms, tools, and other supplies for the war. |
| 15 | The North had more factories, workers, and transportation systems. |
| 16 | The South depended more on farming and had fewer factories. |
| 17 | Losing workers reduces the number of people who can produce goods and provide services. |
| 18 | Inflation is when prices rise over time. |
| 19 | Inflation might happen because goods are scarce and harder to produce or transport. |
| 20 | Factories and supplies were focused on the war, so clothing and shoes could become harder to get. |
| 21 | Governments needed taxes to help pay for soldiers, weapons, and supplies. |
| 22 | A budget is a plan for how to spend money. |
| 23 | The family would have to spend more on food and less on other things. |
| 24 | Opportunity cost is the choice you give up when you choose one thing over another. |
| 25 | A factory making weapons instead of farm tools gives up the chance to make farm tools. |
| 26 | A town near a battlefield might lose businesses, farms, workers, and safe transportation. |
| 27 | Some jobs would disappear, and new jobs such as supplying the army or making war materials might grow. |
| 28 | Cotton was an important crop that the South sold for money and trade. |
| 29 | It would change the labor system and reduce the free labor they depended on, forcing major changes in production and costs. |
| 30 | A united nation made trade, transportation, and business stronger. |
| 31 | Government war spending increased demand for weapons, food, cloth, and transportation. |
| 32 | The war increased the need for manufactured goods, so factories expanded production. |
| 33 | War created a huge demand for goods, workers, and transportation, which affected prices and production. |
| 34 | Shortages meant families could not easily get enough food, clothing, medicine, or other needed items. |
| 35 | If roads, rails, or rivers were blocked, it was harder to move supplies, which slowed armies and reduced trade for civilians. |
| 36 | The North had more industry and transportation, while the South depended more on farming and exports. |
| 37 | The side with more factories, workers, and transportation could produce and move more supplies for war. |
| 38 | The war changed industry, trade, labor, and government spending in ways that affected the country for years. |
| 39 | Studying economics helps explain how money, goods, labor, and trade shaped the outcome of the war. |
| 40 | Sample answer: Economic strength mattered greatly because the ability to produce and move supplies helped armies keep fighting. |