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Ec12Ch3
Ec12Ch3 Productive Resources
17
Economics
12th Grade
01/04/2018

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Term
bar graph
Definition
chart or graph that presents categorical data with rectangular bars with heights or lengths proportional to the values that they represent
Term
pictograph
Definition
a kind of bar graph in which quantities are shown using small, simple pictures
Term
divided bar graph
Definition
a graph with rectangles divided into segments that are proportional to the quantity it represents.
Term
pie graph
Definition
a circular statistical graph which is divided into slices to illustrate numerical proportion
Term
time-series graph
Definition
this graph displays paired data in which the first coordinate is time
Term
productive resources
Definition
labour, natural resources, capital and the entrepreneur
Term
natural resources
Definition
they occur in nature, have value and may be used in production, also called “free gifts”
Term
human resources
Definition
also called labour, are the services provided by workers to produce goods and services
Term
entrepreneur
Definition
ndividuals who start their own businesses or who aggressively expand existing ones
Term
production
Definition
any activity that serves to satisfy human wants
Term
primary industries
Definition
productive activity that is close to the land
Term
secondary industries
Definition
productive activity that is involved in manufacturing staple products
Term
tertiary industries
Definition
the vital link between the producer and the consumer which would include transportation, marketing and repair services
Term
variables
Definition
any factor that can be controlled, changed, or measured
Term
circular flow
Definition
a graphic representation that traces the exchange of goods, services and money in the economy
Term
capital resources
Definition
good that are used in the production of other good and services including factories, machines, and tools
Term
time, skills, resources
Definition
The conditions that a community must have in order for a capital good to be produced.
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