Economics - myWorld Chapter 2

Front

Items you can see: goods, services, consumers, producers

Back

goods

Front

work that people do

Back

services

Front

A user of goods and services

Back

consumer

Front

The makers of goods

Back

producers

Front

To bring in goods from another country

Back

import

Front

To send goods out to another country

Back

export

Front

people's talents and skills

Back

human resources

Front

human-made items used to make other goods or provide services

Back

capital resources

Front

To give up one thing for another

Back

trade-off

Front

What you have to give up to get something else

Back

opportunity cost