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2
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Previously manufactured goods used to make other goods and services
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3
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Advance in knowledge leading to new and improved goods and services and better ways of producing them
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4
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Human effort directed toward producing goods and services
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5
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Condition of not being able to have all of the goods and services one wants because wants exceed what can be made from all available resouces
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6
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Ability of risk taking individuals to develop new products and start new businesses in order to make profits
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7
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The amount of output that results from given level of inputs
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8
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Tangible objects that can satisfy people's wants and needs
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9
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The study of how individuals and societies make choice about ways to use scarce resources to fulfill their wants
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10
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Actions that can satisfy people's wants and needs
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11
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Natural resources and surface land and water
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