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Chapter 3 SS Vocab

TermDefinition
canal a water-way made by humans for transportation
demand the amount of something that people are willing and able to buy
industry all the businesses that produce one kind of product or provide one kind of service
keelboat a boat with a flat bottom and pointed front
service a type of work that fills a need or want
supply the amount of something available for use or sale
surplus an amount of something that is more than what is needed
capital good a resource made by humans, such as buildings, machinery, equipment, and tools
entrepreneur someone who takes risks to start a new business
human resource the talents and skills of the workers needed to produce a good or provide a service
opportunity cost the value of the thing that is given up when a choice is made
productive resource the natural resources, capital goods, and human resources needed to make a product or provide a service
risk a danger
diversity a variety
immigrant a person who comes to a new country to live
pull factor something that attracts someone to a new place
push factor something that causes someone to leave a place
Created by: ayanak
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