MATCHING£VÄQP-WY
In the space provided, Write-the letter of the term or phrase that matches each
description.Some ahswerSwill •notbe used.
C
13 An áCtion Or aCtivity done for others for a fee
a. entrepreneur
I H Anything that people useo make what they need or want
b. human resource
IS Any human effort exerted in the production process
c. resóurce
The use of technical knowledge to create new products or make
existing products more efficiently
d.service
e. technology.
11 A person who attempts to Start a new business or introduce a
new product
f. good
MULTIPLE CHOICE
For each of the following, write the letter of the best choice in the space provided.
The study of the choices people make •to
satisfy their needs and wants is called
The buildings, Structures, machinery,
a. technology.
are called
b. economics.
a. consumer goods.
c. microeconomics.
b. capital goods.
c. natural resources.
d. human resources.
d. macroeconomics.
The people who decide to buy things are
called:
C
and tools used in the productidn
a. producers.
b. economists.
c. consumers.
d. entrepreneurs.
at) The factors of production are
a. capital resources, entrepreneurship,
services.
b. natural resources, human resources,
Services, and entreprehèuršhip.
c. goods, services, human resources,
and capital resources.
d. natural resources, human
resources,
Which of the following is the goal of
entrepreneurship?
a. To develop anew combination of the
other.factors ofprodüction, thereby
creating something of value.
b. To examine aspeèís ofbelíåvior of
entire económieš;
§ùCh as unemploy-
ment in the United States.
provide services
c. To make
using mañufactured
máférialš.=-
d. To enhanCe-ekistiñá produCtSand
improve methods for making
•products.
capital resources, and
entrepreneurship.
Q (pacjc
Fill in the blank:
23 In a command economy, the decision of HOW to produce is often
determinedby
A
In a market econ my, the decision ofWHAT to produce is often determined
by (pg
If , List two weaFnesses of a command econonnc system.
a.
b.
4LJnS
411
re
process
.
gq)