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B202 key terms

Economic Resources

QuestionAnswer
Alternative resource A resource that can be used in place of another
Automation A method of operating or controlling a process in which tasks are completed by automatic means, such as technology, reducing human effort and labor
Baby boomers A term used to refer to individuals who were born between the year 1946 and 1964
Capital goods Manufactured or constructed items that are used to produce good and services
Conservie To slow down that use of something to make its supply last longer than it would otherwise
Consumer goods and services Products produced for personal consumption
Demographics resources The human and natural resources and capital goods used to produce goods and services; also known as factors of production
Demographics Information used to describe a population
Economic reasource the human and natural resources and capital goods used to prduce goods and services; aslo known as factors of production
Employee assistance program A project organized and sponsored by a company to help its employees
Entrepreneurs People who assume the risks of starting and operating businesses
Entrepreneurship Starting and bulding a business
Factors of productin Prouductive resources; human and natural resources and capital goods; also known as economic resources
Finanical capital Money needed to operate a business
Flextime A scheduling procedure in which employees select their own working hours as long as the required number of hours
Fossil fuels Nonrenewable, carbon-based energy sources formed underground from the fossilized remains of plants and animals
Generation X A term used to refer to individuals who were born between the years 1965 and 1980; also known as Gen X
Generation Y A term use to refer to indivduals who were born between the years 1981 and 1995; also known as millennials
Human Resources People who work to prouduce goods and services
Inventory Stock of goods
Just-in-time inventory An inventory method in which goods are ordered so that they arrive when they are needed rather than being stockpiled
Created by: Sandirr
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