Economics Review

2. activity actions that involve the production, distribution, and consumption of goods and services
4. resources people and the skills people possess – ex. Skilled and unskilled workers
6. economic activity includes transportation, retail trade, and information technology
7. resources anything from nature that can be of value to humans
8. the basic urban necessities like streets and utilities
9. relying on another country for goods and services; countries must trade to get the resources they need
11. country a country in the process of being industrialized
13. resources renewable or nonrenewable resources used for obtaining an energy source
15. a person who starts and builds a business
17. economic activity dealing directly with resources;ex. Fishing, farming, forestry, mining
18. cities and towns
19. economic activity involves manufacturing and processing;ex. Steel mills, saw mills, automobile assembly

1. depletion the consumption of natural resources faster than it can be replenished
3. resources; goods produced and used to make other goods and services – ex. Money, tools, equipment, industries, technologies
5. resources natural resources that are limited and will run out over time – ex. Fossil fuels (oil, coal, natural gas) and metals (gold, iron, copper)
10. country a country that has a great deal of technology and manufacturing
12. advantage the ability of countries to produce goods and services at lower relative costs than other countries resulting in the export of goods and services
14. resources natural resources that can replenish themselves with proper management and care – ex. Soil, water, forests, sun, wind
16. countryside