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5 Cards in this Set
- Front
- Back
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What is the condition that results from society not having enough resources to produce all the things people would like to have?
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Scarcity
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What is the study of people when they try to satisfy seemingly unlimited and competing wants through the careful use of relatively scarce resources?
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Economics
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What is a basic requirement for survival, such as food, clothing and shelter?
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Need
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What is something we would like to have but is not necessary for survival?
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Want
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What does TINSTAAFL mean?
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There Is No Such Thing As A Free Lunch
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