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SBV list 8-2
| Question | Answer |
|---|---|
| institutionalized racism | The use of institutional policies, practices and/or procedures to withhold rights, privileges and opportunities from the race that is believed to be inferior. |
| mixed economy | An economic system that combines features or more than one of the traditional command and market system. |
| natural resource | A productive resource supply by nature (e.g., ores, trees, arable land). |
| opportunity cost | The value of the next best alternative given up when a choice is made. |
| production | The act of combining natural resources, human resources, capital goods and entrepreneurship to make goods and services. |
| productive capacity | The maximum output that an economy can produce without big increases in inflation. |
| push factor | A social, political, economic or environmental force that drove people from their previous location to search for a new one. |
| standard of living | A persons or groups level of material well being as measured by education, housing, health care and nutrition. |