| A | B |
|---|
| Economics | The study of how we produce and distribute our wealth. |
| Good | An item that can be bought or sold/Something that is made by people. |
| Service | Any action that one person or a group does for another in exchange for payment/Action people do for others |
| Resource | Anything used to produce a good or service that can be used to satisfy desires/Things used to provide what we need or want |
| Plentiful | Abundant |
| Scarce | Not enough |
| Renewable Resource | One that can be replaced either naturally or by man |
| Nonrenewable Resource | One that cannot be replaced in a timely manner or at all by nature or man |
| Need | Necessary for survival/Something we cannot live without |
| Want | Desires not necessary for survival/Something we would like to have |
| Limited | Only certain amount |
| Natural Resources | Things in nature |
| Human Resources | Workers |
| Capital Resources | Goods used to make other goods |
