WorksheetsPOB Ch. 1.1 Vocabulary
Total questions: 10
Worksheet time: 3mins
____ are things that are required in order to live.
services
goods
needs
wants
_____ are things that add comfort and pleasure to your life.
goods
services
wants
needs
____ are things that you can see and touch.
needs
wants
goods
services
____ are activities provided for the satisfaction of others that are consumed at the same time they are produced.
services
goods
wants
needs
____ are the things available to be used to produce goods and services.
needs
wants
economic resources
environmental resources
Economic resources are also known as ____.
goods
services
factors of production
securities
The people who produce goods and services are known as ____.
natural resources
human resources
environmental resources
all of the above
The risk taker who uses resources to create a new product or service is called a(n) ____.
employee
banker
investor
entrepreneur
The products and money used in the production of goods and services are called ____.
capital resources
natural resources
economic resources
human resources
Your needs and wants never end.
true
false
