1 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt 10 pt 15 pt 20 pt 25 pt 5 pt Factors of Productio n Natural Resources Human Resources Limited Resources Decisions About Productio n
Mar 27, 2015
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Factors of Production
Natural Resources
Human Resources
Limited Resources
Decisions About
Production
2
When economic resources are actually used or produce goods and
services, what do they become?
3
Factors of Production
4
What does a society depend on to produce goods and services?
5
What does a society depend on to produce goods and services?
Economic resources
6
What is a resource which may be used or not used at all?
7
What is a resource which may be used or not used at all?
Economic Resource
8
What is an example of a capital resource?
9
What is an example of a capital resource? A Delivery Van
10
What are the four kinds of economic resources?
11
What are the four kinds of economic resources?
Natural, human, capital, and entrepreneurial
12
What are examples of natural resources?
13
What are examples of natural resources?
Air, water, or earth
14
What are natural resources which are often combined to artificially create
another produce?
15
What are natural resources which are often combined to artificially
create another produce? Synthetic goods
16
What is a resource that renews itself or through the efforts of people?
17
What is a resource that renews itself or through the efforts of people? Renewable resource
18
What is not possible without natural resources?
19
What is not possible without natural resources? Production
20
What are examples of nonrenewable resources?
21
What are examples of nonrenewable resources?
Coal, oil, and minerals
22
What term do we use to classify the people who contribute physical and
mental energy to the production process?
23
What term do we use to classify the people who contribute physical and mental energy to the production process?Human Resources
24
What is another term for Human Resources?
25
What is another term for Human Resources? Labor
26
What do individual workers use to provide services or change natural resources into goods?
27
What do individual workers use to provide services or change natural resources into goods? Skills
28
What does a skilled employee help with in the business?
29
What does a skilled employee help with in the business? Efficient Production
30
Which department helps develop new and products and helps determine efficient methods of production?
31
Which department helps develop new and products and helps determine efficient methods of production?Research and Development
32
What resource problem is a Global Problem?
33
What resource problem is a Global Problem? Limited supply
34
What is the lack of something that can be used to satisfy the wants of a group of people?
35
What is the lack of something that can be used to satisfy the wants of a group of people? Scarcity
36
What is the lack of a basic necessity?
37
What is the lack of a basic necessity? Poverty
38
What could happen as the population increases?
39
What could happen as the population increases? Scarcity of natural resources
40
What term do we call land that has been turned into desert land as a
result of misuse?
41
What term do we call land that has been turned into desert land as a result of misuse? Desertification
42
What must each country do to meet the needs of its people?
43
What must each country do to meet the needs of its people? Decide how to use its natural
resources
44
What is an example of a resource which can be used for only one purpose?
45
What is an example of a resource which can be used for only one purpose? A piece of land used to grow wheat
46
In a ____________, economic decisions are made in the marketplace according to the laws of supply and demand.
47
In a market economy, economic decisions are made in the marketplace according to the laws of supply and demand.
48
When the quantity demanded and the quantity supplied meet, this is called the ____________.
49
When the quantity demanded and the quantity supplied meet, this is called the equilibrium price.
50
A planned or managed economy is called a(n) ________________.
51
A planned or managed economy is called a command economy.