Term
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Definition
| The inability to satisfy all of our wants |
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Term
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Definition
| Reward that encourages an action or a penalty that discourages one |
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Term
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Definition
| The social science that studies the choices that individuals, businesses, governments, and entire societies make as they cope with scarcity and incentives |
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Term
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Definition
| The study of choices that individuals and businesses make |
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Term
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Definition
| The study of the performance of the national and global economy |
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Term
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Definition
| The objects that people value and produce to satisfy human wants |
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Term
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Definition
| Land, labor, capitol, entrepreneurship |
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