| A | B |
|---|
| scarcity | a shortage |
| opportunity cost | the value of something that must be given up to get the thing you wanted |
| incentive | Something that encourages one to take an action or to do something. |
| advertising | The use of public notices to bring attention to something |
| interest | a fee charged by banks for borrowing money |
| innovation | new inventions or ideas |
| import | to bring something in from another country |
| export | to send something to another country |
| division of labor | dividing a job among workers |
| specialization | a process in which a worker performs a single step in the production |
| productivity | the amount of goods or services company workers can make or provide |
| outsourcing | When companies employ people to work outside of the company |
