Econ and Me Vocabulary terms

The money we earn.

• scarcity

• consumer

• income

• human resources

A person who uses a good or a service.

• production

• consumer

• interdependence

• specialize

To do a certain job.

• opportunity cost

• good

• specialize

• resources

This happens when there is not enough of something you want.

• production

• service

• good

• scarcity

GOODS that are used to make other goods or to provide services.

• capital resources

• human resources

• natural resources

• interdependence

The best thing you give up to get something else.

• economic problem

• service

• limited resources

• opportunity cost

Something people DO for other people.

• good

• service

• scarcity

• consumer

When people depend on each other.

• production

• income

• interdependence

• service

The things NATURE supplies.

• capital resources

• natural resources

• human resources

• economic problem

Not enough RESOURCES to satisfy all our wants.

• service

• natural resources

• interdependence

• limited resources