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SS Chapter 3

QuestionAnswer
flatboat a floating "box" used for transporting goods; could only travel down river
keelboat like a flatboat, but the front was pointed. Horses pulled the boat using ropes, while men pushed with poles
surplus there is more than enough of something
supply the amount of something available for use or sale
demand the amount of something that people are willing and able to buy
industry all the businesses that produce one kind of product or service
service A type of work that fills a need or want
canal A waterway made by humans for transportation
risk A danger
entrepreneur Someone who takes risks to start an new business
capital good A resource made by humans, such as buildings, machinery, equipment, and tools
human resource The talents and skills of the workers needed to produce a good or provide a service
productive resource The natural resources, capital goods, and human resources needed to make a product or provide a service
opportunity cost The value of the thing that is given up when a choice is made
diversity A variety
immigrant A person who comes to a new country to live.
push factor Something that causes someone to leave a place
pull factor Something that attracts someone to a new place
Created by: abaughman209
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