Economic Unit Show What You Know

Front

Depend and rely on each other

Back

Interdependent

Front

Choices that people make

Back

Decisions

Front

Materials found in nature

Back

Land/Natural Resources

Front

When people make the goods they are BEST able to produce with the resources they have

Back

Specialization

Front

Exchanging of goods or services

Back

Trade

Front

Tools, machines, and/or buildings used to produce a good or service

Back

Capital

Front

What you give up when you decide to do or have something else

Back

Opportunity Cost

Front

All the resources used to produce goods and services

Back

Factors of Production

Front

Not having as much of something as people would like

Back

Scarcity

Front

Classify: Computer (Options: Land/Natural Resource, Labor, Capital)

Back

Capital