Any human-made resource (money, tools, machines, vehicles) that is used to create other goods and services
corner store
Located at the corner of the street common in all urban areas across the U.S. Typically run by Asians, these sell all needs, including toiletries, food, drinks (alcoholic and non-alcoholic), and cigarettes.
Underutilization
Using fewer resources than an economy is capable of using
Microeconomics
The study of the choices that individuals and businesses make, the way these choices interact in markets, and the influence of governments
Entrepreneur
Ambitious individual who combines land, labor, and capital to create and market new goods and services
Really?
A statement of disbelief in a sarcastic manner. It is like "seriously", but more obnoxious.
Production possibilities curve
A graph that shows the combinations of goods and services that can be produced and the combinations that cannot
Macroeconomics
The study of the performance of the national economy and the global economy
Laissez Faire
Economic theory that argues that governments should not interfere with business affairs
Opportunity cost
The most desirable alternative given up as the result of a decision
