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8 Cards in this Set

  • Front
  • Back
Natural Resources
Materials that come from nature.
(water, soil, wood, coal)
Human Resources
People working to produce goods and services.
Capital Resources
Goods made by people and used to produce other goods and services.
(machines, tools, buildings)
Producers
People who use resources to make goods and/or provide services.
Goods
Things that people make or use to satisfy needs and wants.
Services
Activities that satisfy people's needs and wants.
Economic Choice
The choice of or decision among alternatives or possibilities.
Opportunity Costs
The next best choice that is given up when a decision is made.