Economics Review

What are goods?

• items you can see

• when something is good or bad

• work that people do

• something that is great

What are services?

• something you use for help

• items you can see

• work that people do

• a program you watch

________________ are the makers of goods, they often build business where they need to make the goods

• a. Producers

• b. Consumers

• C. Settlers

_______________ are a users of goods and services. You are one of these.

• a. Producer

• b. Consumer

• C. Settler

Which of the following is an example of a natural resource?

• a. Trees

• b. Whiteboards

• c. Machines

• d. Buildings

What are human resources?

• a. Items found in nature that people use

• b. Talents and skills that people have and use

• c. Human-made items used to make goods or provide services

What is an example of capital resources?

• tools

• soil

• minerals

• gas

What is a cost?

• the price needed to get something else

• A type of investment made by a company
• give something up for another thing

• something useful

What is an opportunity cost?

• What you have to give up to have something else

• the price you need to get something else

• something useful

• to buy with money

What is an import?

• something brought into a country from somewhere else

• something sent out to another country