Unit 7: Economics and Productive Resources

________ is the study of the economy, or the part of society that creates wealth.

• Economics

• Biology

• Geography

• Psychology

________ is the storage of money, possessions, or property.

• Wealth

• Debt

• Expense

• Liability

A ________ is something you can hold or touch.

• Good

• Service

• Idea

• Feeling

A ________ is something someone does for someone else.

• Service

• Product

• Object

• Tool

________ are resources used to produce goods and services.

• Productive Resources

• Financial Statements

• Marketing Strategies

• Consumer Preferences

Which of the following is an example of a Natural Resource?

• Teacher

• Wrench

• Land

• Office building

Which of the following is an example of a Human Resource?

• Nurse

• Water

• Pots and pans

• Office building

Which of the following is an example of a Capital Resource?

• Trees

• Truck driver

• Wrench

• Water

What does Entrepreneurship involve?

• Creating a new company, product, or process

• Physical labor

• Natural resources

• Storing wealth

A producer is a person who ______ a good or service with productive resources.

• produces

• buys

• sells

• consumes