| A | B |
|---|
| incentives | things that incite or motivate |
| opportunity cost | What is given up when a choice is made |
| supply | The amount of goods or services that producers are willing and able to sell |
| demand | the amount of goods or services that consumers are willing and able to buy |
| price | the cost of a good or service |
| resources | human natural capital, and entrepreneurship |
| consumption | using goods or services |
| scarcity | the inability to satisfy all wants at the same time |
| choice | selecing an item from a set of possible alternatives |
| production | the combining of resources to make a good or service |
