Economics Review

What is the definition of natural (land) resources?

• Things from nature used in making or producing a product

• Things made in factories

• Things bought at stores

• Things used for fun

What is the definition of human (labor) resources?

• A person who does the labor (work), both physical and mental

• A machine that works

• A type of animal

• A kind of plant

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

• Teacher

• Tree

• Car

• Water

What is the definition of capital resources?

• Things used to produce goods and services

• Things found in nature

• Things used for fun

• Things to eat

Which is an example of a capital resource?

• Water

• Farmer

• Cows

• Tractor

Which of the following is an example of a government service?

• Fire Department

• Video games

• Candy stores

• Movie theaters

What do entrepreneurs do?

• Take risks using land, labor, and capital to make a profit

• Only buy goods from producers

• Only plant trees

• Only drive trucks

Which is an example of entrepreneurship?

• Going to the movie theater with your family.

• Playing video games

• Mowing lawns for money

What do taxes help pay for?

• Schools and roads

• Candy and toys

• Video games and movies

• Sports equipment

What is an example of a capital resource?

• Tools

• Water

• Trees

• Oil