Louisiana Economy review Flashcards

1

Amount left after costs are subtracted

opportunity benefit
profit
supply
services

2

Activities people do for a fee

manual labor
jobs
services
congress

3

The percent of U.S. oil reserves found in Louisiana

15
75
22
10

4

Trading money without goods or services

commerce
bartering
mercantilism
smuggling

5

Quantity of a good or service consumers are willing to buy

supply
availability
opportunity benefit
demand

6

Louisiana ranks second in the production of what two items?

pulpwood and cotton
sugarcane and cotton
potatoes and indigo
sugarcane and sweet potatoes

7

Gifts from nature

human resources
capital resources
non renewable resources
natural resources

8

Economy that is controlled by the individuals

traditional
command
market

9

Used for trade by the Native Americans

salt
sulphur
lignite
pulpwood

10

When the demand is greater than the supply

opportunity cost
scarcity
supply
demand

11

Economy based on customs beliefs and habits

traditional
command
market

12

Physical items

resources
goods
producer
services

13

Economy that is controlled by the government

market
command
traditional

14

People who produce goods and provide services

Capital resources
Command resources
Natural resources
Human resources

15

Person or business that makes a good or provides a service

producer
capital resource
human resource
natural resource

Louisiana Economy review

Questions 15

Louisiana Economy review

Questions 15