social studeys ch 21

Question 1

capital goods

Answer 1

the factories, machines, technology, tools, equipment, and any other man-made goods used to make other goods or services

Question 2

competition

Answer 2

a situation where multiple people or organizations try to outperform each other

Question 3

entrepreneur

Answer 3

a situation where multiple people or organizations try to outperform each other

Question 4

human resource

Answer 4

the employers and employees who help produce goods and services

Question 5

loss

Answer 5

an amount of money lost by a business or organization

Question 6

natural resources

Answer 6

a naturally-made item, such as a tree, mineral, or fresh water, that people can use to help meet a need or want

Question 7

productive resource

Answer 7

a resource used to produce a good or service

Question 8

profit

Answer 8

the money left over after a business has paid all its expense

Question 9

risk

Answer 9

the possibility or chance of loss, danger, or injury

Question 10

visionary

Answer 10

a person who has an exceptional ability to plan or have ideas for the future