Term
|
Definition
| labor is hired for wages and salary |
|
|
Term
|
Definition
| sum of those economic products that are tangible,scarce,useful, and transferable |
|
|
Term
|
Definition
| efficient use of productive resources |
|
|
Term
|
Definition
| condition of limited resources combined with unlimited resources |
|
|
Term
|
Definition
| people with all their efforts,abilities, and skills |
|
|
Term
|
Definition
| alternative choices made by consumers in the market place |
|
|
Term
|
Definition
| having a worth that can be expressed in dollars and cents |
|
|
Term
|
Definition
| term used to describe natural resources |
|
|
Term
|
Definition
| acronym for the idea that everything as a cost |
|
|
Term
| Economics may best be defined as a? |
|
Definition
| study of efforts to satify seemingly unlimited wants with scarced resources |
|
|
Term
| a basic requirment of survival is a(n) |
|
Definition
|
|
Term
| the purchase and use of goods and services to impress others is called |
|
Definition
|
|
Term
| it is generally agreed that job training is |
|
Definition
| an investment in human capital |
|
|
Term
| productive inputs doing whatever task they are able to do best is called |
|
Definition
|
|
