Economic (Productive Resources ) & Geography Basics

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natural resource

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a resource that is found naturally in nature like a tree or water

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capital good

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a machine or tool that helps produce a good or service

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human resource

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a person who helps to produce a good or service

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entrepreneurship

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a person or group of people who organize natural resources, capitol goods and human resources to develop and/or run a business

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What is scarcity?

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the idea that there are limited resources to fill unlimited wants

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uneven distribution of resources

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various geography (soil, climate, etc.) around the world causes for different places to have different amounts of resources.

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specialization

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when a business/government/entrepreneur focuses on one particular good or service

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interdependence

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when a people/groups/companies depend upon each other to accomplish their goals

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to stop, delay, be an obstacle; hinder; make harder the movement of people, goods and ideas

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impede

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facilitate, help, make easier the movement of people, goods and ideas

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promote