Economics Review

Front

What you give up when making a decision.

Back

opportunity cost

Front

Someone who buys or uses goods and services.

Back

consumer

Front

People who produce goods and services.

Back

producer

Front

Resources that come from nature: water, soil, trees, coal, etc.

Back

natural resources

Front

Opportunity cost is...

Back

the value of the next best choice when you choose something else

Front

Work that is done by others.

Back

services

Front

The act of trading goods and services you have for goods and services you want

Back

trade

Front

A good that is used to produce many other goods and services

Back

capital resource

Front

Which of these is a human resource? Iron, Teacher, Building, Road

Back

Teacher

Front

Which of these is a natural resource? Lumber, Teacher, Building, Road

Back

Lumber