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5 Written Questions

5 Matching Questions

  1. quarternary industry
  2. economy
  3. traditional economy
  4. goods
  5. productive resources
  1. a services for producing or selling things - banking and retail
  2. b what we need to produce goods and services,
    natural, human and capital resources
  3. c careful management of producing, distributing and consuming wealth and resources
  4. d items made or grown (produced)
  5. e based on customs and traditions, people do what their ancestors did (generations)/Africa (tribal society)/India (caste system)/South American rural societies

5 Multiple Choice Questions

  1. government controls/owns businesses and property, government makes all economic decisions/North Korea/Cuba
  2. a job done for someone else
  3. the value of your next best alternative
  4. human effort and energy used in production
  5. process materials - manufacturing

5 True/False Questions

  1. scarcethere are not enough productive resources to provide all of the goods and services wanted by citizens

          

  2. natural resourcesminerals, water, trees and land

          

  3. consumercareful management of producing, distributing and consuming wealth and resources

          

  4. capital resourcesbuildings, machines, tools and equipment

          

  5. entrepreneurshipminerals, water, trees and land

          

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