Missouri Economics

Tools, equipment, machinery, and buildings are capital resources.

A hamburger is a _________ good.

Cowboy boots are a _______ good.

Materials from nature that are used to produce goods and services are capital resources.

Human resources are the people involved in the production of goods and services

What does demand mean?

What does supply mean?

When the supply is HIGH and the demand is LOW, the price will go

Forests, land, water, and minerals are natural resources.

When the supply is LOW and the demand is HIGH, the price will go

Which 2 are true about the economy?

A police station is a ________ good.

The workforce is a human resource