3rd Grade IA4/Final SS Review

Front

Natural resources are materials or substances that occur in nature and can be used for:

Back

Economic gain

Front

'Human Resources' refers to:

Back

The people who make up the workforce of an organization or economy

Front

Labor is the effort that people contribute to the production of _______.

Back

goods and services

Front

'Capital goods' refers to which of the following?

Back

Man-made resources used to produce other goods and services

Front

Entrepreneurship is the process of:

Back

Starting and running a new business, taking on financial risks in the hope of profit

Front

Interdependence

Back

Mutual reliance between two or more groups

Front

Voluntary exchange is the act of:

Back

buyers and sellers freely and willingly engaging in market transactions.

Front

Trade is the exchange of ______ between people or countries.

Back

goods and services

Front

Opportunity cost is the value of:

Back

the next best alternative that is given up when making a choice

Front

Saving is the act of _______.

Back

setting aside money for future use