Economics, Lesson 1

What is the study of how people use resources to produce, distribute and consume goods and services?

• Business

• Economics

• Sociology

• Geography

What is an organized way a society uses to produce, distribute and consume goods and services?

• Business System

• Government

• Economic System

• Economics

Which word means to process of using natural resources or goods or services?

• Consumption

• Distribution

• Production

• Economics

Which word means the process of making goods and services?

• Consumption

• Production

• Distribution

• Economics

Which word means the moving of goods and services directly to or near consumers?

• Consumption

• Production

• Distribution

• Economics

What are resources that are used to produced goods and services?

• Economic System

• Economics

• Factors of Production

• Distribution

Which word means any physical environmental item that people perceive to be useful?

• Natural Resource

• Human Resource

• Capital Resource

Which word means workers and their abilities, talkents, training, skills and knowledge that are used to produce goods and services?

• Natural Resources

• Human Resources

• Capital Resources

Which word means the equipment or goods that are used to produce other goods and services?

• Capital Resources

• Natural Resources

• Economic Globalization

• Human Resources

Which words means the development of increased interconnections and interdependence among different economic systems?

• Economics

• Economic Globalization

• Economic System

• Distribution