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Eco. flash cards
10 eco. flash cards
6
Economics
12th Grade
01/27/2009
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Term

Labor

 

 Definition

the human resource in production human mental and\ or physical efforts exerted in the production of goods and services.
Term

Land

 Definition

Natural resources utilized in the producton process; land, crude oil, water, vegetation etc
Term
Durable good
 Definition

A good that when used regularly last more than three years.
Term
Consumer
 Definition
Someone who buys goods and services.
Term
Productivity
 Definition
the efficient use of productive resources.
Term
Traditional
Definition
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