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| New people seek satisfy their needs and wants |
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| Essential for surrival (food) |
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| something that we desire (games, jewelry) |
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Definition
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| Actions & activities that one person performs |
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| Consumer wants more goods and service that produced |
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| People who decide combine resources to create new good and services |
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resources used to make all good
Land, Labor, Captial (make a business) |
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| Gov't choosing spending money on military or domestic needs |
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most desirable alternative give up as a resuolt of a decision
(benefits) |
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| How much more or less (from economics point of view) |
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| increasing expensive trade-offs |
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