Chapter 1: Using Resources

Question 1

Define Resource

Answer 1

Any material or product that people find useful: any supply that will meet a need.

Question 2

Define Infrastructure

Answer 2

The services and amenities needed for productive activity.

Question 3

In what various forms do resources that people use come in?(5)

Answer 3

• Materials.
• Tools.
• Skilled people.
• Infrastructure to transport
  materials, tools and goods and
  services to the buyer.
• Money to pay for all of the
  above.

Question 4

What are the types of Resources?

Answer 4

• Natural Resources
• Human Resources
• Manufactured Resources
• Financial Resources

Question 5

What are Natural Resources?

Answer 5

This is soil, water, air, etc.

Question 6

What are Human Resources?

Answer 6

People’s labor to operate mines, factories and farms. The more skilled people are the more economically valuable they are.

Question 7

What are Manufactured Resources?

Answer 7

Things that people have made, and which help to produce goods and services.

Question 8

What are Financial Resources?

Answer 8

Capital needed to open and run mines and factories.