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the science that deals with the production, distribution, and consumption of goods and services
the system of economic activity (producing, consuming, spending, saving, imports, exports..)
something that is found in nature and is useful to humans (land, trees, water, coal, oil)
any person and their abilities and skills (mental and physical)
tools used to create a good or to do a service (hammer, building, computer..)
a natural resource that can be re-made, re-grown, or replenished
non renewable resource
a natural resource that cannot be re-made, re-grown, or replenished. You cannot get more once it is used up.
how much of something is available
how much of something people want
limited resources; something you want is not easily available; there is a shortage.
things you would like to have but do not need
something you can use
something someone does for you
what is given up because you choose to buy or do something else
losing or giving up one thing in order to gain something else
money received from selling goods and services
money paid to the government
money received for producing goods or doing services (working)
focusing on producing or doing one thing very well
division of labor
dividing work into separate groups
depending on one another for products and services
goods brought in from another state or country
goods sent to another state or country