The Role of Business Review

Things that are necessary to survival are known as

• Wants

• Needs

• Producers

• Consumers

Tangible things you can buy to meet your wants and needs

• Services

• Essentials

• Goods

• Markets

Water and minerals are an example of what kind of resource

The things available to be used to produce goods and services are known as

Raw materials supplied by nature are known as

• Natural resources

• Capital resources

• Human resources

The people who produce goods and services are known as

• Natural resources

• Capital resources

• Human resources

Products and money used in the production of goods and services are known as

• Human resources

• Labor resources

• Natural resources

• Capital resources

Scarcity is defined as

• Unlimited resources for limited people

• Creating new products and services for different uses

• Someone who consumes products

• Not having enough resources for people's wants

An example of a good in the business classroom would be

Activities done for you that you generally cannot do yourself are known as