| A | B |
|---|
| What is the term for tasks that people or machines perform for payment? | services |
| What must business provide to consumers in order to satisfy their wants and needs? | goods and services |
| What are most public wants satisfied by? | local, state, and federal governments |
| Which is a want that government cannot satisfy? | bicycles and skates |
| What is an activity that seeks profit by providing goods or services to others? | business |
| What is a shortage of resources called? | scarcity |
| What are the means to produce goods and services called? | factors of production |
| What are the raw materials found in nature called? | natural resources |
| What are limited resources called? | nonrenewable |
| What type of resource are teachers, coal miners, bank managers, and farm workers? | human resources |
| What is the term for figures used to measure an economic performance? | economic indicators |
| What does gross domestic product measure? | value of goods and services produced by a country |
| What is the total amount of money a government owes? | national debt |
| What does downsizing cause? | unemployment |
| What does a nation have when it spends less than its income? | budget surplus |
