Vocabulary for Economic Systems

What is the correct definition of the following term: Natural Resources?

• Land and raw materials

• Human workers who do the work

• Tools, equipment, and money/currency

• Individuals who invest in the product to market

In a construction site, who would be considered as the labor?

• Human workers who do the work

• A type of fruit

• A type of vehicle

• A type of animal

What is the defintion of the word Capital

• Tools, equipment, and money/ currency

• Laws and raw materials

• Humans who do the work

• A system of money in genreal use in a particular country .

What is the correct defintion of the word Currency

• A system of money in general use in a particual country .

• Make ( someithng needed or wanted ) available to someone; provide

• consumers desire and willingness to buy a product or service at a given period or over time

• The system of production, distributions, and consumption of goods and services.

What is the deffintion of the word Entrepreneurs

• Individuals who invest in the product to maket .

• A system of money in general use in a particular country .

• Just a word they use on TikTok

• Consumers desires and willingness to buy a product or service at a given period or over time .

What is the correct definitions for the word Supply

• Consumers desire and willingness to buy a product or service at a given period or over time.

• The system of productions, distributions, and consumption of good and services.

• Make ( Something needed or wanted available to someone; provide.

• Goods are tangible items sold to customers.

What is the correct definition of the word Demand

• The systems of productions, distribution, and consumption of goods and services.

• Goods are tangible items sold to cusotmers, while services are task performed for the benefits of the recpients .

• Consumers desire and willigness to buy a product or services at a given period or over time .

• Land and raw materials

What is the correct definition of the word Economy

• Human workers who do the work

• Tools and equipment and money / currency

• Individuals who invest in the product, start a new business or bring the finished product to market.

• The system of productions, distributions, and consumption of goods and services.

What is the correct definitons for the word : Goods and Services

• Goods are tangible items sold to customers, while servies are task performed for the benefit of the recipients .

• A system of money in general use in a particualar country .

• Make ( something needed or wanted ) available to someone ; provide.

• The system of proudction and distribution