GLE48 -- Resources in Economics
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Created by:
TimeMachine Teacher on January 29, 2012
Subjects:
gle48, economics, resources, five economic resources
Description:
48. Characterize and analyze the use of productive resources in an economic system (E-1A-M6)
Classes:
Mr. Blankenship's Study Group, Mr. Blankenship's Louisiana History, CMM Social Studies Teachers
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11 terms
Terms | Definitions |
|---|---|
 Bill Gates | Who said "If GM had kept up with technology like the computer industry has, we would all be driving $25 cars that got 1000 MPG" |
| land | Economists use the term "___" to refer to the surface of the ___, the area above it, and the natural resources on or beneath the surface. |
| Natural resources | ___ may be mineral (oil, natural gas, gold, diamonds, coal, etc.) or living (trees, flora, fauna). |
| Labor | ___, also known as human resources, are the people that do the work of production. |
| Capital | ___, in the sense of a productive resource, refers to the means of production. |
| Entrepreneurs | ___ start and manage businesses. |
| Managers | ___ direct labor to use capital and natural resources to produce goods and services. |
| profit | The difference between the cost of manufacturing a good and the price charged for the good is the company's ___. |
| Technology | ___ multiplies the usefulness of the other resources. |
| Frontier Thesis | In the 1890s Professor Frederick Jackson Turner predicted that growth in the American population without expansion into new lands would result in famine, a theory known as the... |
| Green | The ___ Revolution combined the mechanization of farming and chemical fertilizers, herbicides, and pesticides to make farms FAR more productive. |
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