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12 Cards in this Set
- Front
- Back
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Income
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The money that you earn.
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Scarcity
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When there isn't enough of something you want.
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Goods
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Something that people want that they can touch or hold.
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Consumer
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A customer, or a person who uses a service.
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Service
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Something that someone does for you.
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Specialize
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To do a special job.
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Opportunity Cost
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The thing you give up when you must make a decision.
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Choice
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When you have to make a decision between a few things.
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Interdependence
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People who depend on one another.
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Resources
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The materials needed to make something.
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Producer
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The person who makes the goods.
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Production
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The combining of resources to make a good that people want.
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