Factors of Production (Economic Resources)

Front

Shortage of a good signals to producers:

Back

Raise prices

Front

Impact of SUV popularity on gasoline market

Back

Demand for gasoline will increase

Front

Impact of economy on gasoline demand

Back

Demand for gasoline will decrease

Front

Quantity demanded > Quantity supplied

Back

Shortage

Front

Initiative to improve goods & services

Back

Entrepreneurial resources

Front

Knowledge, efforts, and skills in work

Back

Human resources

Front

Wants exceed resources

Back

scarcity

Front

Goods used to produce other goods and services

Back

Capital resources

Front

Type of economy in most nations

Back

Mixed Economy

Front

Studies how individuals and societies satisfy wants & needs

Back

Economics