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Types of Economic Resources Quiz
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Types of Economic Resources Quiz

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@UndisputedVorticism

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Questions and Answers

Most products require a combination of ______ resources

all

Human resources are sometimes referred to as ______

labor

Capital resources include buildings, equipment, tools, trucks, and ______

factories

Interdependence refers to the idea that industries and business can rely on each other to help generate ______

<p>revenue</p> Signup and view all the answers

A shortage of economic resources means trouble for ______

<p>business</p> Signup and view all the answers

The world's oil reserves are running ______

<p>out</p> Signup and view all the answers

What happens to supply if the cost of producing a good decreases?

<p>Supply will increase</p> Signup and view all the answers

How does a change in technology generally affect the supply of a good or service?

<p>Supply will increase</p> Signup and view all the answers

What happens to supply if the price of a good decreases?

<p>Supply will decrease</p> Signup and view all the answers

How does a change in the number of producers affect the supply of a popular good?

<p>Supply will increase and price will drop</p> Signup and view all the answers

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