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Answer Key
Grade 5 Social Studies: Economics — Specialization, Trade & Markets
1.
focusing on producing one type of good or service well
2.
exchanging goods and services
3.
a trade both parties choose because they expect to benefit
4.
a system where buyers and sellers exchange goods and services
5.
the amount of money asked for a good or service
6.
when people and places rely on each other for goods and services
7.
Answers vary: people get better at one task; produce more
8.
Answers vary: get goods they cannot make; access variety
9.
focusing on producing one good or service well
10.
trade both parties choose
11.
people rely on each other for goods
12.
system where buyers and sellers exchange
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