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not enough of a certain resours to satisfy people needs and wants
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| the study of how people, businesses , and counties make choices and use their resources |
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| things that can be seen, touched,bought or sold |
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| something performed for others for money |
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| four things needed to produce goods and services natural resources, labor, capitiy and entrepreneurs. |
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| something provided by nature, such as wood,oil,and coal that can be uesd to produce good and serivces |
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| human-made items, such as machines and tools that are uesed to porduce goods and sevices |
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| a preson who comes up with the ideas for producing goods and services |
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| whatever is given up whan a chice has to be made; a trade off |
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| the use of resources to produce only a single good or a few kinds of goods and serivces |
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| the amount of goods and services provided by a worker or bussines in a given time period |
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| the use of science to create new or better goods and sercvices or more efficient methods of production |
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