Economics Word Scramble
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| Term | Definition |
| Economics | the study of how you make choices to use their scarce resources in an attempt to satisfy their unlimited wants |
| Need | Something essential for survival (ex. Food, water, shelter) |
| Want | Something people desire, not needed for survival |
| Goods | Physical objects that someone produces (ex. Shoes, boots, coats) |
| Services | Actions or activities that one person performs for another (ex. Haircut, nails, concerts) |
| Factors of Production | Resorces that are used to create goods and services |
| Land or Natural Resources | includes atmospheric resources like rain, sunlight, and wind (ex. Oil, gas, trees) |
| Labor or Human Resources | the effort of people devoted to a task for which they are paid |
| Capital | any human made resource that is used to produce other goods and services, includes money |
| Entrepreneur | Risk Taker |
Created by:
alaynaj
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