| A | B |
|---|
| Barter | trade without the use of money where goods and services are directly exchanged |
| Money | anything with a standard value used to purchase goods or services |
| Supply | the quantity of a resource, good or service available |
| Demand | the amount of a resource, good or service that is required |
| Scarcity | not enough of a resource, good or service |
| Surplus | the amount of a resource, good or service that is above what is needed |
| Specialization | to perform a specific kind of work or make a specific product |
| Natural Resource | an item found in nature used by people to produce goods or provide a service |
| Capital Resource | man-made goods used to produce other goods or services |
| Human Resource | the work of people used to produce goods or provide services |
| productivity | the amount of goods or services produced during a specific amount of time |
| opportunity costs | the next important choice that is given up when making an economic decision |
| production | the action of combining resources to make goods or services |
| consumption | the use of goods and services by a consumer, business or government |
| imports | goods or resources brought into a country or region |
| exports | goods or services sent out of a country or region |
| taxes | a required fee collected in support of a government by the people under the control of that government |
