Term
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Definition
| materials that come from nature (water, soil, wood, coal). |
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Term
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Definition
| pepple cannot have all goods and services they want. They must choose some things and give up others. |
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Term
| What are opportunity costs? |
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Definition
| the next best choice that is given up when a decision is made. |
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Term
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Definition
| people working to produce goods and services. |
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Term
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Definition
| goods made by people and used to produce other goods and services (machines, tools, buildings). |
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Term
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Definition
| peole who use resources to ame goods and /or provide services. |
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Term
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Definition
| Things people make or use to satisfy needs and wants. |
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Term
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Definition
| activities that satisfy people's needs and wants |
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