Business H/W

4. economic resources and things such as machinery used for production
7. risk bearing in the hope of making a profit
9. A nation where the average income is much lower than in industrial nations, where the economy relies on a few export crops, and where farming is conducted by primitive methods. In many developing nations, rapid population growth threatens the supply of food.
11. nations that have a more advanced economy usually measured by gross domestic product (GDP) and/or average income per resident. Developed countries have advanced technological infrastructure and have diverse industrial and service sectors.
15. becoming expert in a particular subject
17. a good or a service which somebody must have in order to live
18. firms that supply a service to consumers and other businesses
19. of production the production and supply of goods o the final consumer involves activities from primary ,secondary and tertiary sector businesses
20. sector - the firms that process and manufacture goods from natural resources
22. the firms whose business activity involves the extraction of natural resources

1. the separation of tasks in any economic system or organization
2. sector the part of the economy that is controlled by the state or government
3. goods which consumers buy for their own satisfaction
5. the mental and physical capabilities of the workforce
6. products which businesses purchase to help with their production process
8. the part of the economy owned and controlled by individuals and companies for a profit
10. the gap between limited resources and theoretically limitless wants
12. source of free goods and physical space
13. economy an economy where the resources are owned and controlled by both the private and public sectors
14. problem - finite resources aren't able to support infinite goods and wants
16. the loss of other alternatives when one alternative is chosen
21. goods or services which people would like to have