Economics Review

Resources from nature that are needed to make a product

Examples: wood, coal, air, and water

• Natural Resources

• Capital Resources

• Products

• Human Resources

A person who comes up with an original idea for a new item that will make money

• Leader

• Human Resources

• Entrepreneur

• Goods

Tools and equipment are examples of ___________ resources.

• Capital

• Human

• Natural

• Service

Objects that are used or bought by a consumer are called...

• Services

• Goods

True or False: A babysitter is an example of a service.

• True

• False

True or False: A dentist is an example of a good.

• True

• False

A human needed to help make a product or help provide a service is a ___________ resource.

• Entrepreneur

• Capital

• Human

• Natural

Is a new basketball a need or want?

• Need

• Want

A person who makes goods and services are called ____________.

• Consumers

• Producers

• Wants

An example of a consumer would be...

• A farmer growing a garden and selling produce.

• A doctor giving you a check up.

• A shopper buying groceries.