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;
7 Cards in this Set
- Front
- Back
|
A social science that studies how people, acting individually and in groups, decide to use scarce resources to satisfy their wants |
Economics |
|
|
A process that combines economic resources so the result is a good or service that is available for sale |
Production |
|
|
The process of getting a product or service to consumers |
Distribution |
|
|
using a product product or service to complete the want-satisfaction chain |
Consumption |
|
|
Natural resources such as soil, minerals, timber, and fresh water |
Land |
|
|
the physical and mental efforts people use to create goods and services |
Labor |
|
|
are the buildings, tools. and |
Capital |
