Natural Resources

question 65

Multiple Choice

Natural resources:

• A) include bodies of water, trees, oil reserves, and minerals.
• B) are not scarce.
• C) are inexhaustible as long as they are managed properly.
• D) are the result of human effort.
• E) do not follow the law of demand and supply.

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Definitions:

Required Production

The amount of production a company needs to meet its sales goals and inventory policies, often calculated based on forecasted sales plus target ending inventory minus beginning inventory.

Manufacturing Corporation

A manufacturing corporation is a company engaged in the industrial production of goods and products.

Produced Units

The total number of units manufactured during a specific period.

Raw Materials

Raw materials are the basic, unprocessed physical materials required for manufacturing products.