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SS Chapter 3

TermDefinition
keelboat a boat with a pointed front, similar to a flatboat
surplus when there is more than enough of something
supply the amount of something available for use or sale
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
service doing work for someone else that fills a need or want
canal a man-made waterway for transportation across land
risk a danger
entrepreneur a person who risks money and time to start a new business
capital good a resource made by humans
human resources the talents and skills of the workers needed to produce a good or provide a service
productive resources the natural resources, capital goods, and human resources needed to make a product or provide a service
opportunity cost the value of the thing that is given up when a choice is made
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: bmusso
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