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The Economics of Natural Resources

Total questions: 17

Worksheet time: 9mins

Name
Class
Date
1.

_____________ are things that people make or use to satisfy their needs and wants.

a)

Goods

b)

Services

c)

Producers

d)

Consumers

2.

________________ are activities that satisfy people’s needs and wants.

a)

Goods

b)

Services

c)

Needs

d)

Wants

3.

Resources that are not man-made.

a)

Capital

b)

Human

c)

Natural

d)

none of these

4.

Fossil fuels are nonrenewable because..

a)

...they are used to produce heat.

b)

...they take a long time to form.

c)

...they can be found underground.

5.

This type of renewable energy converts the power of the wind to electricity.

a)

steam engines

b)

wind turbines

c)

solar power

d)

nuclear power

e)

geothermal power

6.

Energy sources that are not easily replenished are called...

a)

nonrenewable resources

b)

renewable resources

7.

Which of the following is NOT a Natural Resource?

a)

coal

b)

solar

c)

wind

d)

paper

8.

Why do we tend to use non-renewable resources instead of renewable resources?

a)

Less Expensive

b)

More Energy

c)

All of these

9.

What is the disadvantage of using non-renewable resources?

a)

They can all be used up over time.

b)

They have a large carbon footprint.

c)

They can lead to global warming.

d)

All of these.

10.

Natural resources are used as raw materials in the manufacturing of products that people need.

a)

True

b)

False

11.
A person who buys goods and services
a)
consumer
b)
entrepreneur
c)
resource
d)
currency
12.
The using up of a resource
a)
scarcity
b)
supply
c)
services
d)
consumption
13.
another word for money
a)
barter
b)
economics
c)
currency
d)
price
14.
The making, buying and selling of goods and services
a)
economics
b)
inflation
c)
market
d)
barter
15.

A person who comes up with a new idea for a product, and they actually make it and sell it.

a)

resource

b)

human resources

c)

consumer

d)

entrepreneur

16.
The amount of money we pay for a good or service
a)
currency
b)
price
c)
inflation
d)
economics
17.
The exchange of goods and services
a)
trade
b)
market
c)
economics
d)
consumer