In Economics, What Is the Definition of Natural Resources

question 104

Multiple Choice

In economics, what is the definition of natural resources?  

• A) the buildings, equipment, and human skills used to produce goods and services 
• B) the time and the physical and mental efforts used to produce goods and services 
• C) the imagination required to develop a new product or process 
• D) all gifts of nature used to produce goods and services NOT considered scarce because they are NOT produced by society

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Definitions:

McDonaldization

The process by which the principles of the fast-food restaurant are coming to dominate more and more sectors of American society as well as of the rest of the world.

Stakeholder Interests

The specific concerns, goals, or desires that stakeholders (individuals or groups affected by or with an interest in a project, organization, or outcome) hold.

Competing

Engaging in an effort or stride to win or be more successful than others in a particular market, sport, or any area of endeavor.

Coordinated

Describes actions or processes that are managed and arranged systematically to achieve a specific goal or function efficiently and harmoniously.