Chapters 1-3 Practice Quiz

Determine whether this is private property or public property

An apple

• Private Property

• Public Property

Determine whether this is private property or public property

Sunshine

• private property

• public property

Determine whether this is private property or public property

A pen

• private property

• public property

Determine whether this is private property or public property

A pizza

• private property

• public property

Determine whether this is private property or public property

A park

• public property

• private property

Determine whether this is private property or public property

A school

• public property

• private property

Determine whether this is private property or public property

A dog

• private property

• public property

anything that satisfies a person’s wants or brings satisfaction; also, tangible products

• Land

• Goods

• Capital

• Labor

tasks that people pay others to perform for them

• Utility

• Land

• Services

• Entrepreneurship

the special talent that some people have for searching out and taking advantage of new business opportunities and for developing new products and new ways of doing things

• Entrepreneurship

• Capital

• Land

• Labor