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Rooney Economics 1

Start here - do this stack first

TermDefinition
allocation the act of dividing up something and passing pieces out
allocation of resources The process of dividing up and distributing the available, limited resources to satisfy wants and needs
capital resources goods used to make other goods
consumers people who use/buy something
consumption The using up of goods and services by consumer purchasing or in the production of other goods
distribution the way goods/services are delivered to the customer
goods physical items that can be seen and touched
human resources the people who make up the workforce of a company
natural resources materials that can be found naturally within an environment
private belonging to one person/group
production combining resources to make items to sell or services for customers
public belonging to/being used by all the community
resource valuable supply that can be used as needed in the production of goods and services
service performing any duty or work for another
Created by: ldmsrooney
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