| A | B |
|---|
| opportunity cost | the next best thing that a person can have or engage in |
| good | a physical product capable of being delivered to a purchaser |
| unlimited wants | people cannot have everything they want and must look for the best alternative |
| want | is something that is desired |
| service | a non-material equivalent of a good |
| economics | is the study of how people make goods, how goods/services are divided, and how we use them |
| scarcity | available resources are insufficient to satisfy all the needs |
| need | is something that is necessary for humans to live a healthy life |
