business practice

The raw materials found in nature are called?

• scarce resources

• limited resources

• natural resources

• capital resources

People are an example of what type of resources?

• natural resources

• capital resources

• factors of production

• human resources

The study of how a society chooses to use resources to produce and distribute goods and services for people's consumption is called?

• economics

• production

• consumption

• entrepreneurial resouces

What are the factors of production?

• demand, supply, scarcity, and price

• natural, labor, capital, and entrepreneurial resources

• renewable and nonrenewable resources

• market, command, and mixed economies

Buildings, materials, and equipment used to produce goods and services are called?

• captial resources

• labor resources

• entrepreneurial resources

• natural resources

_____________________________are individuals who start and direct businesses to produce goods and services to satisfy the needs and wants of people.

• Natural resources

• Human (labor) resources

• Entrepreneurial resources

• Stock brokers

Examples of natural resources are?

• doctors, police officers

• crops, oil

• buildings, equipment

• individual resources, financial resources

Which of the following examples is not considered a need?

• bike

• food

• water

• clothing

Any activity that seeks profit by providing goods or services to others is called?

• services

• resources

• goods

• business

The contest between businesses to win consumers is called?

• resources

• competition

• wants

• market research