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Economics & Culture

Grade 5 · Building confidence · 8 questions · Version PG-CQAXKB-RTRC

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1.Explain “cultural diffusion” in your own words.
2.Explain “culture” in your own words.
3.Explain “supply” in your own words.
4.Explain “comparative advantage” in your own words.
5.Explain “export” in your own words.
6.Explain “import” in your own words.
7.Explain “demand” in your own words.
8.Explain “inflation” in your own words.

Answers and teaching notes

Use the answers to check the work after the learner finishes. For writing prompts, the guide describes what a strong response should include.

Show answers for version 6
  1. Explain “cultural diffusion” in your own words.the spread of ideas and customs between groups
  2. Explain “culture” in your own words.shared practices, beliefs, arts, and ways of life
  3. Explain “supply” in your own words.the amount sellers are willing to offer
  4. Explain “comparative advantage” in your own words.the ability to produce at a lower opportunity cost
  5. Explain “export” in your own words.a good or service sold to another country
  6. Explain “import” in your own words.a good or service brought into a country
  7. Explain “demand” in your own words.the amount buyers are willing to purchase
  8. Explain “inflation” in your own words.a broad rise in prices over time

Worked example

Identify resources, choices, tradeoffs, and the cultural context of an exchange.

Common mistake

Ignoring the next-best choice given up.

Helpful hint

Name both the benefit chosen and the opportunity cost.