Part 3

An import is ______. The good comes IN.

• something bought from another country

• something produced domestically

• a product that is exported

• an item manufactured locally

In a free enterprise system ______.

• the government stays out of economic activity

• government controls every aspect of commerce

• public enterprises dominate the market

• economic decisions are made by centralized authorities

A capital resource is ______.

• anything used to produce the goods and provide the service

• a natural resource not involved in production

• a human resource

• a finished product

An oil rig is an example of ______.

• a capital resource

• a renewable resource

• a natural resource

• a human resource

A producer is someone who ______.

• makes the goods or provides the service

• buys the goods or consumes the service

• distributes the goods to retailers

• regulates the industry

An example of a producer is ______.

• a baker

• a mechanic

• a teacher

• an engineer

A consumer is someone who ______.

• buys goods and services

• sells goods and services

• produces goods and services

• distributes goods and services

A sports fan watching a game is an example of ______.

• a consumer

• a spectator

• a viewer

• an observer

Scarcity means that ______.

• there isn't enough of something for everyone

• everyone has more than they need

• resources are unlimited

• there's always an abundance

An example of scarcity are ______.

• two items on five store shelves

• an unlimited supply of resources

• an inexhaustible energy source

• infinite water available everywhere