Java Games: Flashcards, matching, concentration, and word search.

Chapter 1

basic economic problem or scarcityThe problem-which faces individuals, businesses, and governments-of satisfying unlimited wants with limited resources.
capital resources or capitalTools, equipment, and buildings used in producing goods and services.
economic decision makingThe process of choosing which want, among several wants being considered at a certain time, will be satisfied.
economic resources or factors of productionThe means through which we produce goods and services.
goodsThe things you can see and touch.
human resources or laborThe people who work to produce goods and servises.
natural resourcesRaw materials supplied by nature.
needsThings that are necessary for survival, such as food, clothing, and shelter.
servicesThings that satisfy our wants through the efforts of other people or equipment.
wantsThings which are not necessary for survival but which add pleasure and comfort to our lives.

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