POBF Unit 4.03 - Vocabulary Words

Question 1

Money a business uses to purchase resources

Accepted Answer

Financial capital

Question 2

Usefulness created by altering or changing the form, shape or look

Accepted Answer

form utility

Question 3

Manufacturing, cooking, teaching, construction, printing are examples of

Accepted Answer

conversion process

Question 4

Tasks that are completely by automatic means

Accepted Answer

automation

Question 5

Goods that are ultimately sold to consumers (orange juice, desk lamp)

Accepted Answer

Consumer goods

Question 6

A process that rely heavily on the special skills of works

Accepted Answer

Labor intensive

Question 7

Outputs such as education, healthcare, a concert

Accepted Answer

Intangible outputs

Question 8

The way in which production will be carried out

Accepted Answer

production process

Question 9

Outputs that are sold to producers who will use them to make other products

Accepted Answer

Industrial goods

Question 10

Process that depend more on the use of equipment

Accepted Answer

capital intensive

Question 11

Human resources, natural resources, capital or capital goods

Accepted Answer

Basic categories of inputs

Question 12

The goods and services produced as the result of combining inputs

Accepted Answer

outputs

Question 13

producing products in large quanities

Accepted Answer

mass production

Question 14

The specific economic resources used in producing goods and services

Accepted Answer

inputs

Question 15

Outputs such as computers, jewelry

Accepted Answer

tangible outputs

Questions 15