| Term | Definition |
|---|
| arable land | fertile land, suitable for growing crops |
| capital resources | the goods that are manufactured and constructed by people to produce other goods and services, including but not limited to factories, warehouses roads, bridges, machinery, ports, dams, and tools; also called capital goods |
| economic resources | the natural, human, and capital resources that are used to produce goods and services; also called factors of production |
| economic wants | desires that can be satisfied by consuming goods and/or services. Examples include hunger, thirst, protection from the elements, and good health, entertainment, and transportation. |
| human resources | people doing physical or mental work to produce goods or services |
| natural resources | gifts of nature that can be used to produce goods and services |
| scarcity | the condition in which economic wants for goods and services are greater than the limited resources available to satisfy those wants |
| self-sufficient | the ability to provide for oneself without the help of others |
Combine with other sets
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