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13 Cards in this Set

  • Front
  • Back
Scarity
when a resource is limited
Human Resources
people used to make good & services
Income
the money you earn
Service
when you pay for something to be done
Production
making of goods and services
Resources
things used to make goods and services
Natural Resouces
things found in nature
Consumer
a person who spends money to buy something
Consumption
spending money to buy goods and services
Capital Resources
money to produce goods and services
Opprotunity Cost
what is given up if a choice is made
Goods
things we can buy
Interdependence
when one thing depends on another to work