Economics Test

Question or Hint Answer or Word

economics the study of producing, distributing, and consuming goods and services.
scarcity when people have unlimited needs and wants but there are not enough resources to fulfill them.
goods something that is MADE or GROWN. Items that we value or desire, they must be tangible (can be touched, tasted or held).
services work that someone does for someone else
natural resources materials or substances that occur in nature and can be used to produce a good or service
capital resources money, tools, equipment used to produce a good or service
human resources people that do the work or labor to produce a good or service