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10 Cards in this Set
- Front
- Back
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Which productive resource is missing from the list below?
._______________________ . capital equipment . labor (human capital) .entrepreneurship |
A. Land (natural resources)
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Which is NOT an example of the productive resource known as labor?
A. A policeman patrolling a city street. B. A cashier at a supermarket. C. A forest of oak trees D. A doctor performing surgery |
C. A forest of oak trees.
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A toaster, a computer, and a bicycle are all examples of what?
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C. Goods
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Which of the following is made using the productive resource of coal?
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D. A steel beam
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Which of the following is an example of consumption?
A. A person making a shirt. B. A person eating a sandwich. C. A person repairing a car. D. A dentist filling a cavity. |
B. A person eating a sandwich.
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Which statement about the free market economy is most accurate?
A. It is the amount of money left over after all business expenses have been paid. B. It is the productive resources used to make goods. C. It allows anyone to start a business. D. It guarentees that businesses will make profits. |
C. It allows anyone to start a business.
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A bus driver, a teacher, and a firefighter are all examples of people involved in what?
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B. Providing services
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A person who decides to buy a pair of jeans rather concert tickets is dealing with what?
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C. Oppurtunity cost
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A person who puts together the productive resources of land, labor and capital goods to make items is called what?
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B. An entrepreneur.
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Which is an important reason why Ohio specializes in some goods rather than others?
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B. Ohio's natura resources make it easier and cheaper to produce certain goods.
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