| A | B |
|---|
| Economics | The study of how resources are used |
| Wants | Things you don't need to live |
| Needs | Things you need to survive |
| Goods | Something that is made or grown |
| Services | Something one person does for another |
| Barter | Trade good or services without money |
| Natural resources | Gifts of nature |
| Human resources | Labor or work |
| Capital resources | Machines, tools, or buildings |
| Producers | People who sell goods or services |
| Consumers | People who buy goods or services |
| Specialization | Use specific skills and abilities to produce goods or services |
| Interdependence | People who depend on each other for goods and services |
| Economic Choice | When you get something you want |
| Opportunity Cost | What you lose when you choose |
