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Economics 1 Terms

TermAnswer
good something that you can touch or hold
human capital people who work in jobs to produce goods and services
natural resource an aspect of the physical environment that people value and use
service something that one person does for someone else
quota a proportional share assigned to a group or each member of a group to produce; a production assignment.
demand the number of consumers willing and able to purchase a good or service at a given price.
supply the quantity of resources, goods, or services that sellers offer at various prices at a particular time.
complimentary good goods that go together or compliment one another.
substitute good goods that can be used in place of each other.
Created by: samplej
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