| A | B |
|---|
| Economics | allocate/distribute resources |
| Human Needs | can't live without |
| Human Wants | any type of goods/services we can live without |
| Land | natural resources |
| Labor | people working |
| Capital | money needed to operate a business |
| Resources | anything used to make goods/services |
| Time Utility | product available at certain time of year |
| Place Utility | Products in easy place for consumers |
| Form Utility | Useful products created frm raw materials |
| Possession Utility | exchange product for money |
| Information Utility | supplies information to consumer |
| Utility | value marketing addes to product |
| Capitalism | businesses are privately owned |
| Socialism | some government control to secure a certain standard of living |
| Communicsm | government runs and controls all |
| Free Enterprise System | encourages people to start and run businesses |
