What are natural resources?
They are resources that are found in nature
Does a singing teacher provide a good or a service?
They provide a service
What does specialize mean?
When a producer does one special kind of work
Is an apple a good or a service?
Its a good
What is a consumer?
A person who buys goods or services
What is a producer?
Someone who makes good to be sold
What are capital resources?
They are things made by people that help workers make goods or services
What is a human resource?
Skills, knowledge and hard work that people bring to their jobs
What is a service?
Services are things that people do for others—for example, gymnastics lessons, banking, and dental care.
What are goods?
Goods are things that are produced. They are objects that can be touched. Goods include food, clothing, cars, houses, roads, electronics.