ADMICRO

Read the following passage and mark the letter A, B, C, or D on your answer sheet to indicate the correct word or phrase that best fits each of the numbered blanks
What is meant by the term economic resources? In general, these are all the natural, man-made, and human resources that go into the (1).....   of goods and services. Economic resources can be broken down   into two general categories: property resource – land and capital, and human resources – labor and entrepreneurial skills.
What do economists mean (2).......... land? Much more than the non-economist, land refers to all the natural resources that are usable in the production process: arable land, forests, mineral and oil deposits, and (3).........on.  What  about  capital?  Capital  goods  are  all  the  man-made  aids to producing, storing, transporting, and distributing goods and services. Capital goods differ from consumer goods in that (4)........... satisfy wants directly, while the former do so indirectly by facilitating the production of consumer goods. It should be noted that capital as defined here does not refer to money. Money, as such, produces nothing.
The term labor refers to the physical and mental talents of humans used to produce goods and services (with the exception of a certain set of human talents, entrepreneurial skills, which will be considered separately because of their special significance). Thus the services of a factory worker or an office worker, a ballet (5)..........or an astronaut all fall under the general heading of labor.

(3)..........................

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ZUNIA12
ZUNIA9
AANETWORK