Factors of Production & Supply and Demand

Direction: Match the word to the correct definition.

_____ Tools, machines, and buildings used to make goods.

• 
• 
• 
• 

_____ People who do the work (physical or mental effort).

• Land

• Labor

• Capital

• Entrepreneurship

• _____ Natural resources like water, soil, trees, and minerals.

• Land

• Labor

• Capital

• Entrepreneurship

_____A person who starts a business and brings everything together.

• Land

• Labor

• Capital

• Entrepreneurship

A person who opens a bakery → __________________

• Land

• Labor

• Capital

• Entrepreneurship

A gold mine in the mountains → __________________

• Land

• Labor

• Capital

• Entrepreneurship

• A delivery truck → __________________

• Land

• Labor

• Capital

• Entrepreneurship

1. A teacher in a school → __________________

• Land

• Labor

• Capital

• Entrepreneurship

A limited quantity of popular dolls are released right before Christmas. This will likely lead to a:

• Shortage

• Surplus

The amount of an item that someone has to sell.

• Need
• Supply
• Demand
• Import