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16 questions
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- Multiple ChoicePlease save your changes before editing any questions.
______ is any physical environmental item that people perceive to be useful.
human resource
natural resource
capital resource
distribution
- Multiple ChoicePlease save your changes before editing any questions.
_____ is equipment or goods (machinery, tools, factories, stores, vehicles, etc.) that are used to produce other goods and services.
human resource
natural resource
capital resource
production
- Multiple ChoicePlease save your changes before editing any questions.
_____ is workers and their abilities, talents, training, skills, and knowledge used to produce goods or services
human resource
capital resource
natural resource
production
- Multiple ChoicePlease save your changes before editing any questions.
What is the process of making goods and services?
production
distribution
consumption
- Multiple ChoicePlease save your changes before editing any questions.
What is it called to move goods and services directly to or near consumers?
production
consumption
distribution
- Multiple ChoicePlease save your changes before editing any questions.
What is the process of using natural resources or goods and services?
production
consumption
distribution
- Multiple ChoicePlease save your changes before editing any questions.
What is the study of how people use resources to produce, distribute, and consume goods and services?
tariff
economics
trade
import
- Multiple ChoicePlease save your changes before editing any questions.
What is a product that people in one country sell to people in another country?
import
export
trade
tariff
- Multiple ChoicePlease save your changes before editing any questions.
What is a product that people in one country buy from people in another country?
import
export
trade
tariff
- Multiple ChoicePlease save your changes before editing any questions.
What is a tax placed on products that go from one country to another?
trade
tariff
import
economics
- Multiple ChoicePlease save your changes before editing any questions.
What is the act or process of exchanging goods or services one has for the goods or services one wants?
trade
tariff
import
economics
- Multiple ChoicePlease save your changes before editing any questions.
What is consumers’ willingness and ability to purchase a product or service?
demand
supply
competition
profit
- Multiple ChoicePlease save your changes before editing any questions.
What is the amount of a product or service that is available for consumers to buy?
demand
supply
scarcity
profit
- Multiple ChoicePlease save your changes before editing any questions.
What is not enough supply or a very small supply?
demand
supply
scarcity
competition
- Multiple ChoicePlease save your changes before editing any questions.
What is the money or value that is gained after you subtract the costs involved?
demand
supply
scarcity
profit
- Multiple ChoicePlease save your changes before editing any questions.
What is the act or process of trying to get or win something that someone else is also trying to get or win?
scarcity
profit
competition
loss