| A | B |
|---|
| natural resources | something found in nature that is useful to humans |
| services | Work that is done that does not result in something you can touch or hold |
| economic choice | making choices or decisions based on your knowledge of money and economics |
| wants | things that people would like to have |
| economic interdependence | two or more people or countries depending on each other to provide goods and services |
| demand | people's willingness and ability to buy a product or service depending on the price |
| supply | the willingness to sell a certain good or service at various prices |
| goods | things that are made by people or are found in nature |
| needs | something that you must have to survive |
| producers | people who make goods or provide services |
| consumers | a buyer of a good or service for personal or family use |
| scarcity | not having enough of a good available |
| opportunity cost | when making a decision or a choice, this is the next best thing that is given up in order to get something else |
| human resources | the ability of people to work using their brains and energy. Their work creates goods or services that people want. |
| capital resources | the buildings, tools, machinery, equipment, pipelines, and other things made by people used to make good and to perform services. Goods that are used to make other goods |
| economic specialization | individuals or groups of people who focus on one product or service |
