cht 14 & 15 ss quiz thurs Flashcards
1
Q
what are the four productive resources
A
natural resources, human resources, capital goods, and entreprenuership
2
Q
what are natural resources
A
resources supplied by nature
3
Q
what are human resources
A
talents and skills of entreprenuers that produce goods and services
4
Q
what are capital goods
A
human mad materials needed to produce goods and seervices
5
Q
what is an entrepreneur
A
someone who has an idea and starts a new business
6
Q
what is comsumption
A
use of goods and services
7
Q
how does specialization result inna trade
A
region specializes iand it uses the available prodductive resources to make good and services
8
Q
opportunity cost
A
amount gained by producing other goods and services
9
Q
$89
lasts longer
helps people
good quality
A
C & PC
FC
FC
PC & B
