| Question |
Answer |
| resource |
anything that is of value to humans |
| natural resource |
anything from nature that is of value to humans |
| capital resource |
money, large buildings, expensive machines, and infrastructure |
| human resource |
the number of people in a country and the skills they possess |
| renewable resource |
a natural resource that can regenerate itself with proper management |
| nonrenewable resource |
a natural resource that will run out eventually |
| energy resource |
a resource that can be used to generate power |
| fossil fuels |
coal, oil, and natural gas |
| aesthetics |
how something looks |
| skilled laborers |
people who must be trained over a long period of time |
| unskilled laborers |
people who can be trained in a short period of time |
| entrepreneurial abilities |
the ability to start and manage a business |
| infrastructure |
the basic systems that help an economy run such as roads, telecommunications, schools, and transportation networks |
| primary economic activity |
when a resource is gathered from nature such as farming, hunting, and fishing |
| secondary economic activity |
when a resource is processed into something useful or manufactured into something |
| tertiary economic activity |
the service sector of the economy |
| environmental degradation |
harming the environment or causing pollution |
| developed nation |
a country with a high standard of living |
| developing nation |
a country with a low standard of living |
| landlocked |
a country that does not have an outlet to the ocean |
| globalization |
integration of a national economy into an international economy through trade, foreign investment, and the spread of technology |
| product assembly |
when the components of an item are shipped to a central location and put together |
| industrialization |
the process of replacing human power with machine power |
| hydroelectric power |
power generated by water |
| agribusiness |
large farms owned by corporations |
| telecommunications |
telephone, radio, television, cell phone, and internet networks |
| cash crops |
plants that are grown for export in exchange for money such as tobacco, sugar, and cotton |
| gross domestic product |
the total value of all of the goods and services produced within a country in a year |
| purchasing power parity |
the theory that identical products and services in different countries should cost the same |
| processing |
when a natural resource is made into something useful. some examples are mills, refineries, and canneries. |
| textiles |
clothing |
Beef Production
