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economics vocabulary

TermDefinition
Economy The careful management of producing, distributing and consuming and wealth and resources
Productive Resources Tern referring to natural resources, labor, human resources, and capital resources
Natural Resources Resources that are found in the envoironment
Labor Resources People who work
Physical Labor Resources (construction worker) Resources made using the skills of human being
Mental Labor Resources Resources made using the brain of human being (Banker)
Capital Resources Goods used to make other goods or provide a service
Renewbale Resources Resources that can be repenished natural
Non-renewable Resources Resources that can be depleded from the enviornment
Goods Things or items we use thta are produced
Raw Materials Materials in their primary form
Created by: samanthadelong
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