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4 Cards in this Set
- Front
- Back
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Utility |
The value, or satisfaction that people derive from the goods and services they consume and the activities they pursue. |
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Human Capital |
The skills a worker has as a result of education, training, or experience that can be used in production. |
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Factors of Production |
The resources available to an economy for the production of goods and services. |
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Capital |
A factor of production that has been produced for use in the production of other goods and services; office buildings, machinery, and tools are examples of this. |
