BE Ch 2

Raw materials supplied by nature are

• capital resources

• economic resources

• natural resources

• human resources

A risk taker who uses resources to create a new product or service is a(n)

• entrepreneur

• human resources

• economist

• producer

The factors or production are

• economic resources

• things available to be used to produce goods and services

• goods and services

• employees that produce

The people who produce goods and services are known as

• entrepreneurs

• economists

• farmers

• human resources

buildings, equipment and supplies are considered

• factors of production

• economic resources

• raw resources

• capital resources

It is not always easy to determine the products and services that satisfy needs and wants

• True

• False

Which of the following would an economist most likely classify as a need?

• gasoline for a florist's delivery truck

• a battery powered automobile

• a flat-screen tv

• part-time job to earn extra money

An example of a natural resource is

• sunlight

• computer programmer

• fishing net

• money

an example of a capital resource is a

• tree

• hammer

• coal

• money

an example of a human resource is

• money

• teacher

• computer

• plants