Unit 1 Economics Review
Flashcard
•
Social Studies
•
9th - 12th Grade
•
Hard
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30 questions
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1.
FLASHCARD QUESTION
Front
Factors of Production
Back
The 4 things needed to produce goods and/or services
2.
FLASHCARD QUESTION
Front
Labor
Back
Humans needed to do work
3.
FLASHCARD QUESTION
Front
Land
Back
Natural resources needed to produce
4.
FLASHCARD QUESTION
Front
Capital
Back
Machines and tools needed to produce
5.
FLASHCARD QUESTION
Front
Entrepreneurship: Money needed to pay for land, labor and capital
Back
Money needed to pay for land, labor and capital
6.
FLASHCARD QUESTION
Front
Human Resources is another term for which factor of production?
Back
Labor
7.
FLASHCARD QUESTION
Front
Scarcity
Back
Unlimited wants, limited resources
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