Ch I Economics

Henry Ford came up with the idea of:

With Henry Ford's assembly line, cars were able to become:

On an assembly line, each worker has their own "job" to do as the product moves from worker to worker.

John Deere, Sam Walton and Steve Jobs were all considered:

A "productive" worker is someone who works hard& uses their time well, to get their work done.

Natural resources are:

Another word for "work" is:

Capital is:

Minerals would be an example of:

People who like their jobs are usually:

An example of a natural resource would be:

An example of a good would be:

Anything of value ( $$, machines, tools, ) is known as:

An example of a good would be:

Food, Shelter and water would all be considered:

Work done for other people for a fee is a:

A want is:

All the goods that we buy have to be:

Division of labor allows each worker to:

There are 4 Factors of production: Labor, Capital, Natural Resources and__________________.

Teachers, waitresses and doctors all provide:

A need is:

Goods are:

Scarcity means that:

A cell phone should be considered a:

What kind of "worker" should you strive to be?

_____________________ is the study of how people and countries use their resources.

An item that you can buy is a:

Buying a basketball instead of taking your friend out to dinner is an example of:

The products/things that we buy have to be: