Reading...
Play button
Play button
Use LEFT and RIGHT arrow keys to navigate between flashcards;
Use UP and DOWN arrow keys to flip the card;
H to show hint;
A reads text to speech;
9 Cards in this Set
- Front
- Back
|
scarcity
|
the state of being scarce or in short supply
|
|
|
economics
|
the social science that seeks to describe the factors which determine the production |
|
|
wants |
good or services that are not necessary but that we desire or wish for |
|
|
need
|
goods or services that are required to survive
|
|
|
factors of production |
an economic term to describe the inputs that are used in the production of goods or services in the attempt to make an economic |
|
|
land |
comprises all naturally occurring resources whose supply is inherently fixed` |
|
|
labor |
labor represents the human capital available to transform raw or national |
|
|
capital |
monetary and physical resources companies use to purchase natural resources |
|
|
|
|
