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Economy

Part 1
NOTES

What is economy?



What does the development of economy depend
upon?



What is production?




What is distribution?



What does distribution depend on?




What does consumption depend on?



What are the four elements that are needed for
production to occur?



What is an entrepreneur?





What are capital resources?



What are labor resources?



What are natural resources?



What are the 5 types of industries?



What is agriculture?



What is an example of a product that is considered
a part of the agriculture industry?



What is manufacturing?



What is an example of a product that can come
from the manufacturing industry?



What is wholesale?



What is an example of a wholesale industry?




What is retail?



What is an example of a retail industry?



What is a service?



What is an example of a service industry?

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