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economics vocab

1st half <page 43>

QuestionAnswer
scarcity not enough of a supply of resources
goods things or idems that we use that are produced
services a job done for someone else
economy the careful management of producing, distributing, and consuming wealth and resources
natural resources these are found in the enviroment
market anywhere goods are sold or traded
capital resources goods used to make other goods or provide a service
wages amount paid to an induvidual for service provided
consumer one who uses goods and services
labor resource people who work
Created by: pruden
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