Economics: Question Preview (ID: 3581)

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Soil is an example of a
a) natural resource b) a want c) human resource d) capital resource
People working to produce goods or services
a) natural resource b) opportunity cost c) capital resource d) human resource
People who use resources to make goods and/or provide services
a) economic interdependence b) natural resource c) producers d) capital resource
Focusing on one product or service
a) economic specialization b) economic interdependence c) needs d) wants
Food, air, shelter, and water
a) capital resources b) economic choice c) wants d) needs
The people of Mali traded gold for salt with other people. This is an example of
a) interdependence b) specialization c) opportunity cost d) economic choice
Virginia specializes in what?
a) road building and farming b) salt and gold c) shipbuilding and mining coal d) making pottery
The next best choice that is given up when a decision is made
a) economic choice b) economic interdependence c) economic specialization d) opportunity cost
The choice of or decision among alternatives or possibilities
a) economic choice b) specialization c) opportunity cost d) interdependence
Virginia is known for shipbuilding. This is known as
a) natural resource b) economic choice c) opportunity cost d) specialization
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