Economics Review

What type of resources come directly from nature?

• Human Resources

• Capital Resources

• Goods

• Natural Resources

What is a good?

• An object that people what that they can hold or touch

• An action that someone does for someone else

• When you behave in class

• Someone who makes something

Emily studies for her social studies test instead of playing outside. What is the opportunity cost?

• Studying for her test

• Playing outside

• Nothing

• Both

Which of the following is an example of a human resource?

• Donut

• Wood

• Farmer

• Factory

Why do different places specialize in goods and services?

• Because they want to

• Because they are not able to produce everything they want

• They don't specialize

• Because they really like one thing

Why do people make economic choices? Pick 2!!

• Because we are not able to have everything we want

• We don't make economic choices

• Because ice cream is better than cake

• Because resources are sometimes limited

What does interdependence mean?

• Something that comes from the Earth

• When people or countries depend on someone else to provide the goods and services they produce

• When you produce goods and services

• When you buy goods and services

Which of the following are examples of producers? Pick 2!!

• Ice cream factory

• Customer

• Farm

• Apple juice

Which of the following is an example of a service?

• Oreos

• Dog

• Dog walker

• Books

Which of the following is an example of a capital resource?

• trees

• computer

• cashier

• teacher