Business- Chapter 2

What are the four main economic resources?

• Natural, Human,Capital, Entrepreneurial

• Natural, Human,Capital, Entrepreneurship

• Natural, Humanity,Capital, Entrepreneurial

What are two types of natural resources?

• wheat and cattle

• renewable and non-renewable

• renew and non-renew

• iron and steel

3.What is one of the biggest labor problems facing many nations today?

• good workers

• Skilled labor

• unskilled labor

• shortage of resources

What is the primary goal of an economic system?

• to control the people

• To provide people with a minimum standard of living or quality of life.

• to help the people on a minimum basis

In a market economy who owns the resources?

• government and people

• the government

• market place

• individuals

Who controls the resources in a command economy?

• marketplace and government

• the marketplace

• the government

What determines how many goods and services a person can buy?

• the government

• their income

• the marketplace

What is an example of capital resource?

• technology

• wheat

• equipment

• iron

Deciding to use a resource for one purpose over another is called

• choices

• opportunity

• decisions

A shortage of resources is called

• limited

• scarcity

• economics

• supply