Chapter 1 - Economic Resources

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Vocabulary flashcards covering the four categories of economic resources defined in Chapter 1.

Last updated 5:59 PM on 10/4/26
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4 Terms

1
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Land

Includes all natural resources used in the production process.

2
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Labor

Physical actions and mental activities that people contribute to production.

3
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Capital (investment)

All human-produced physical objects and intangible ideas used in production.

4
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Entrepreneurial ability

Special human resource distinct from labor.