unit 2

Which of the following economic resources helps people to be more productive

Capital goods

When a stove is used in a restaurant kitchen, it is a

capital good

Using a stream to supply water to a field in order to grow crops is an example of using

natural resources

Weather conditions can directly affect the supply of

natural resources

Maintenance, modifications, and use of alternative sources are responses to limited

natural resources.

Over the next few years, members of Generation X and Generation Y are expected to fill many job positions vacated by retiring Baby Boomers. This is an example of a change in

workforce demographics.

Which of the following statements about economic resources is true:

As natural and human resources become limited, capital goods become limited.

Which of the following economic resources is responsible for combining the other resources to produce goods and services:

Human resources

Which of the following occurs when the supply of individuals who are able and willing to work diminishes

Human resources become limited.

Which of the following statements regarding economic resources is true:

Natural resources, human resources, and capital goods are often referred to as factors of production.

Which of the following situations involves finding an alternative resource to use in place of a nonrenewable natural resource:

Powering a motor vehicle with biodiesel instead of gasoline

Which of the following situations involves finding another source of a limited natural resource

Searching for oil on the ocean floo

Automation involves replacing human resources with

capital goods.

A salesclerk working part-time at a clothing store is an example of a(n)

human resource

Offering higher wages, employee-assistance programs, and benefits are responses to limited a. natural resources.

human resources

Resources that enable businesses to operate are also known as

inputs

Rather than being required to start his work day at 8:00 a.m. and end at 4:00 p.m., Tyler is allowed to start and end his work day at his convenience as long as he works 40 hours per week. This is an example of

lextime.

When there is not enough of a resource available for everyone to have as much of it as desired, the resource is a(n) __________ resource.

limited

The state of technology that exists in a society can limit

natural resources and capital goods.

When producers use the best combination of resources, consumers are more likely to get goods and services that

they want