Economy of MI

Which of the following is a human resource?

• store

• oven

• factory worker

Buying or using something that is already made

• consume

• produce

• scarcity

Making something new

• consume

• produce

• opportunity cost

When there is not enough of a good or service

• consume

• scarcity

• produce

A choice that you give up when you choose something else

• scarcity

• opportunity cost

• produce

The study of how people use limited resources to make goods and services that people need or want

• scarcity

• opportunity cost

• economics

WORKERS that help produce goods and services

• capital resources

• human resources

• natural resources

Goods needed to produce other goods and services

• capital resources

• human resources

• natural resources

Something that is found in nature that can be used by people

• capital resources

• human resources

• natural resources

The process of making goods

• research and development

• manufacturing

• tourism