Term
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Definition
| Resources Needed to Produce |
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Term
| What are The Factors of Production? |
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Definition
| Entrepreneurs,Land,Capital,Labor |
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Term
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Definition
| Risk Takers Who Invent Products |
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Term
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Definition
| Society's Limited Natural Resources |
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Term
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Definition
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Term
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Definition
| Workers Who Use Skills To Produce |
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Term
| What Are The Categories of Goods? |
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Definition
| Consumer,Capital,Durable,Non-Durable |
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Term
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Definition
| Goods With Consistent Three Year Use |
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Term
| What are the Scopes of Economics? |
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Definition
| Description,Analysis,Explanation,Prediction |
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Term
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Definition
| There Is No Such Thing As a Free Lunch |
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Term
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Definition
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Term
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Definition
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Term
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Definition
| Study of How People Satisfy Wants With Scarce Resources |
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Term
| What is The Fundamental Economic Problem? |
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Definition
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Term
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Definition
| Condition Where Unlimited Human Wants Face Limited Resources |
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Term
| What Are The Three Basic Questions Society Must Answer Based On Need? |
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Definition
What Must We Produce?
How Do We Produce It?
Who Do We Produce It For? |
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Term
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Definition
| Easily Transferable Goods Or Services |
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Term
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Definition
| Ability to Satisfy That Varies From Person to Person That Makes Something Useful Or Valuable |
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Term
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Definition
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Term
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Definition
| Where People Sell and Trade Products |
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Term
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Definition
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Term
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Definition
| How Much You Can Create With Resources Provided |
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Term
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Definition
| Anything That Improves People |
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