| A | B |
|---|
| capital | human made things such as michines and tools, that are used to produce goods and services. |
| economics | study of how people use their limited resources |
| entrepreneurs | people who come up with the ideas to make a good or service. |
| factors of production | natural resources, labor, capital, and entrepreneurs |
| goods | things that can be seen, touched, bought, or sold. |
| labor | workers |
| opportunity cost | whatever is given up when a choice is made. |
| productivity | the amount of goods/services made by worker |
| scarcity | not enough of a resource |
| specialization | producing only a single of few kinds of goods/services |
| technology | use of science to make new or better good. |
