Identify whether the statements are true or false by dragging and dropping the appropriate term into the bin provided. Long-run economic growth is unlikely to be sustainable because of finite natural resources. In the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically. Finding alternatives to natural resources will be very important to long-term economic growth. In the modern economy, human and physical capital are generally less important in productivity than natural resources. In the 19th century, countries with the highest per capita GDP were nearly always abundant in minerals and productive farming land.

Explanation:

Long run economic growth is unlikely to be sustainable because of finite natural resources.   False

In the modern economy, countries that possess few domestic natural resources essentially have no chance to develop economically.  - False

Finding alternatives to natural resources will be very important to long-term economic growth.  - True

In the modern economy, human and physical capital are generally less important in productivity than natural resources.  - False

In the 19th century, countries with the highest per capita GDP were nearly always abundant in minerals and productive farming land.  - True

answer; the correct answer should be (demonstrations); good luck

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know