Economics VOCAB

Front

an item or service not essential to living

Back

want

Front

a necessity for survival

Back

need

Front

tangible products that can be bought

Back

goods

Front

intangible activities that can be purchased

Back

services

Front

the study of how people allocate resources

Back

economics

Front

inputs used to produce goods and services

Back

resources

Front

materials provided by nature

Back

natural resources

Front

human effort used in production

Back

labor

Front

financial assets or physical tools

Back

capital

Front

individuals who start businesses

Back

entrepreneurs