Galey Economic Review

What are productive resources?

• natural resources, human resources, capital goods
• individuals in society, where they work
• natural resources, human resources

How to best use their available resources, how to help businesses grow, how to improve the economy are all what?

• choices the individuals make
• choices that societies make together
• how people make choices on what to buy

What are the three fundamental questions of economics?

• What to produce? Will people like me? How to produce?
• For whom to produce?  Will people buy goods?  What to produce?
• What to produce?  How to produce?  For whom to produce?

What are present and future consequences?

• personal economic choices
• the definition of scarcity
• what to buy

What are buildings and machinery and example of?

• human resources
• capital goods
• natural resources

People who are educated to do the work needed to produce a good or service.

• human resource
• capital good
• natural resource

Why do many countries have to specialize?

• innovation
• limited productive resources
• a lot of resources

For whom to produce can affect many things.  What is one?

• price of good or service
• why it should be made
• natural resources

What does demand and means of distribution help to make the decision about?

• capital goods
• human resources
• For whom to produce

Individuals and societies make decisions about what to produce and how to produce based on what?

• government
• collective economic choices
• productive resources