Personal Finance and Economics Review

What is scarcity?

• someone that makes a good

• shortness of supply; not enough

• something used to make a good

• the relationship between people and places within a community

What is a resource?

• providing only one good or service

• someone that makes a good

• something used to make a good

• a person involved in the production/making of a good or service

Who is a consumer?

• someone that uses or buys goods and services

• a good sold to another country

• something used or bought

• shortness of supply; not enough of something

What is a good?

• the act of doing something for someone else

• providing only ONE good or service

• something used or bought

• a resource found in nature

What is a service?

• shortness of supply; not enough

• someone that makes a good

• someone that uses goods and services

• the act of doing something for someone else

Who is a producer?

• anything used in the production/making of a good and service

• someone that makes a good or provides a service

• something used or bought

• the relationship between people and places within a community

What is a natural resource?

• a resource found in nature

• a person involved in the production of a good or service

• anything used in the production/making of a good or service

• something used or bought

What is a capital resource?

• Someone who makes goods or services

• anything used in the production of a good or service?

• a resource found in nature

• a person involved in the production of a good or service

What is a human resource?

• shortness of supply; not enough

• the act of doing something for someone else

• providing only ONE good or service

• a person involved in the production of a good or service

What does interdependence mean?

• something used to make a good

• something used or bought

• the relationship between people and places within a community

• providing only ONE good or service