| A | B |
|---|
| Exchange | The process of trading one good/service for another |
| Human resources | People who work to produce goods and services |
| Goods | Tangible objects that can be manufactured or produced for resale |
| Income | The money received by resource owners and by producers for supplying goods and services to customers |
| Free goods | Items that can be obtained without money |
| Natural resources | Items that are found in nature and used to produce goods and services |
| Noneconomic want | A desire for something that can be satisfied without spending money |
| Economizing | The process of deciding which goods and services will be purchased or provided so that the most satisfaction can be obtained; deciding how scarce resources will be used |
