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unit 3 vocab words

vocabulary

TermDefinition
Economics The study of how people and countries make decisions about how to use their resources in the most efficient way.
Goods A physical item that can be bought or sold. ex: car, clothes, food
Services Work performed in exchange for money. ex: car repair, hair cut
Human Capital People who perform labor; employees .
Capital Goods Any physical manufactured asset used in work; includes buildings, machinery, vehicles, and technology.
Entrepreneur (entrepreneurship) A person who takes on the risk of owning and operating a business.
Natural Resources Resources supplied by nature that can be used to develop wealth for a country.
Created by: deborahhall3087
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