Natural Resources and Economic Concepts Flashcard

Front

Which of these is an example of a natural resource? a table made from wood, gold dug from the ground, a necklace made of silver, a pie

Back

gold dug from the ground

Front

All of the following services are provided by the government through taxes EXCEPT: post offices, libraries, hotels, military

Back

hotels

Front

Which of these is an example of a human resource? Options: a plastic toy, a peach tree, a diamond in the ground, a factory worker

Back

a factory worker

Front

Why is it a risk for an entrepreneur to start a business?

Back

The business might not make enough money.

Front

What is the MAIN way communities get money in order to build schools and roads?

Back

taxes

Front

Describe the relationship between producers and consumers.

Back

The producer makes the product and the consumer buys the product.

Front

Which of these is an example of a capital resource? Options: oil at the store, a machine that pumps oil, a person who sells oil, an oil business owner

Back

a machine that pumps oil

Front

When a dog groomer buys dog shampoo, what role does he have in the economic system?

Back

Consumer

Front

Consumers and producers of goods and services experience interdependence. That means they:

Back

need each other

Front

What is the value of what is given up when a choice is made?

Back

Opportunity Cost