POB FINAL EXAM REVIEW With Complete
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,Terms in this set (117)
Things that are necessary for Need
survival
Things not necessary for survival but Wants
which add comfort and pleasure to
our lives
Things you can see and touch Goods
Tasks that people or machines Services
perform
Raw materials produced by nature Natural resources
, The people who contribute physical Human resources
and mental energy to the
production process
Are the tools, equipment, and Capital resources
buildings that are used to produce
goods and services
Are the combining of natural, Entrepreneurial resources
human, and capital resources to
produce goods and services. The
basic economic problem exists due
to limited resources for satisfying
unlimited needs and wants
Is not having enough resources to Scarcity
satisfy the unlimited needs and
wants
Questions And Correct Detailed Answers
(Verified Answers) |Already Graded A+
Save
Practice questions for this set
Learn 1 /7 Study with Learn
,Terms in this set (117)
Things that are necessary for Need
survival
Things not necessary for survival but Wants
which add comfort and pleasure to
our lives
Things you can see and touch Goods
Tasks that people or machines Services
perform
Raw materials produced by nature Natural resources
, The people who contribute physical Human resources
and mental energy to the
production process
Are the tools, equipment, and Capital resources
buildings that are used to produce
goods and services
Are the combining of natural, Entrepreneurial resources
human, and capital resources to
produce goods and services. The
basic economic problem exists due
to limited resources for satisfying
unlimited needs and wants
Is not having enough resources to Scarcity
satisfy the unlimited needs and
wants
