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What are natural resources?
Materials found in nature that people use such as water wood gold and land. Civilizations with many natural resources could grow stronger and trade with others.
What are human resources?
The people who work to produce goods and services such as farmers builders and traders who help a civilization grow.
What are capital resources?
Tools machines and buildings used to make goods such as plows roads and factories. These help people work faster and produce more.
What is a command economy?
An economic system where the government makes all decisions about what to produce and how resources are used.
What is a market economy?
An economic system where people and businesses make their own choices about what to produce and buy based on supply and demand.
What is a mixed economy?
An economic system that combines command and market systems where both the government and individuals make decisions.
What is a traditional economy?
An economic system based on customs and traditions where people often do the same jobs as their ancestors.
What is supply and demand?
Supply is how much of a product is available and demand is how much people want it. Prices go up when demand is high and supply is low.
What was the gold and salt trade?
A trade system in West Africa where gold and salt were exchanged which helped empires like Ghana and Mali become rich.
What was the Silk Road?
A network of trade routes connecting Asia Europe and Africa where goods like silk and spices were traded and ideas spread.
What were the Mediterranean trade routes?
Sea routes used for trade between Europe Africa and Asia where goods like olive oil and grain were exchanged.
Why were trade routes important?
Trade routes helped civilizations grow by spreading goods ideas culture and technology.
Why is access to resources important?
Civilizations with access to water land and minerals were more likely to grow strong and successful.
What are trade networks?
Connections between places that allowed goods and ideas to be exchanged helping societies become richer.
What were the Punic Wars?
A series of wars between Rome and Carthage over control of trade routes. Rome won and became more powerful.
What are economic reasons for rise and fall of civilizations?
Civilizations grew when they had resources and strong trade but declined when resources ran out or trade stopped.
What is economics?
Economics is the study of how people use resources to make goods and services and how they buy and sell them.