B202 Business Essentials Economic Resources

Resources that enable businesses to operate are also known as

• revenues

• inputs

• outputs

• sales

Which of the following statements regarding economic resources is true:

• As businesses grow and become more complex, they typically require fewer resources.

• Similarly sized businesses within the same industry usually use identical resources.

• Natural resources, human resources, and capital goods are often referred to as factors of production.

• Industrialized nations typically require fewer capital goods than developing countries.

When producers use the best combination of resources, consumers are more likely to get goods and services that

• they do not need.

• cost more.

• are best known.

• they want.

Using a stream to supply water for crops is an example of using

• natural resources.

• human resources.

• capital goods.

• nonrenewable resources.

A salesclerk working part-time at a clothing store is an example of a(n)

• natural resource.

• human resource.

• capital good.

• unlimited resource.

Which of the following economic resources is responsible for combining the other resources to produce goods and services:

• Natural resources

• Human resources

• Capital goods

• Nonrenewable resources

Which of the following economic resources helps people be more productive:

• Noneconomic resources

• Natural resources

• Human resources

• Capital goods

When a stove is used in a restaurant kitchen, it is a

• noneconomic resource.

• natural resource.

• human resource.

• capital good.

When there is not enough of a resource available for everyone to have as much of it as desired, the resource is

• unlimited.

• limited.

• natural.

• human.

Weather conditions can most directly affect the supply of

• human resources.

• capital goods.

• natural resources.

• noneconomic resources.