Economics Review

What type of resource does this picture show?

• capital

• human

• natural

• cashier

What type of resources does this picture show?

• tree

• human

• natural

• capital

What type of resource does this picture show?

• capital

• tractor

• human

• natural

Choose two types of taxes from the choices below.

• sales

• internet

• property

• church

What is the definition of natural resources

• Goods such as tools and machinery made and used to produce other goods and service.

• The people who produce goods and or services.

• Materials such as forests and water that can be found in nature.

What is the definition of capital resources

• Goods such as tools and machinery made and used to produce other goods and service.

• The people who produce goods and or services.

• Materials such as forests and water that can be found in nature.

What is the definition of human resources

• Goods such as tools and machinery made and used to produce other goods and service.

• The people who produce goods and or services.

• Materials such as forests and water that can be found in nature.

Mr. Bulky's candy shop just received a shipment of lollipops. His supply of lollipops is too high. What will happen to the price of the lollipops?

• The price will increase.

• The price will decrease.

• The price will stay the same.

• What flavor of lollipops?

Bobby was trying to decide between purchasing a drone or purchasing Beats Headphones. If he chooses the headphones, what is his opportunity cost?

• $125

• He can't afford lunch.

• He does not get to purchase the drone.

• He gets to listen to music.

Which of the following defines taxes? Choose 3.

• Money paid to the government to pay for needs of citizens.

• Money paid by citizens to support the government.

• Money the government gives to people for being good citizens.

• Money that is collected to pay for schools, parks, police, firefighters, roads, military, etc.