Economics

____________ are things that people do for you.

Claire loaded her truck with vegetables from her garden to sell at a local market. Which of the following BEST describes Claire's truck?

 

• land resources

• capital resources

• natural resources

• human resources

Jennifer works for Coca Cola company as a truck driver. What type of resource is Jennifer?

• Capital Resource

• Human Resource

• Natural Resource

• An entrepreneurship Resource

Which type of productive resource is a tree?

• Capital good

• entrepreneur

• human resource

• natural resource

Why do entrepreneurs take risks?

• to pay taxes

• to get elected

• to make a profit

• to gain knowledge

__________ make and sell goods and services

Which of the following are true about supply and demand?

 

• If demand is greater than supply, then prices are lower.

• If supply is greater than demand, then prices are lower.

• If supply is equal to the demand, then prices are higher.

• If supply is greater than demand, then prices are higher.

Why do local, state, and federal governments collect taxes?

• To take away citizens’ rights

• To provide services to citizens

• To support church youth groups

• To make sure laws are being followed

Why is it important that goods are made all over the world?

• It helps governments grow rich by selling goods.

• It allows businesses to charge higher prices for goods.

• It makes businesses charge consumers the lowest price possible.

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  It gives people access to goods that their community does not make.

__________are things people make or use to satisfy needs and wants (products).