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2
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The study of how people seek to satisfy their needs and wants by making choices
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3
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A situation in which a good or service is available
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4
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Limited quantities of resources
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5
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Actions or activities that one person performs for another
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6
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Physical objects such as clothes or shoes
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7
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Any human-made resource that is used to create other goods and services
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9
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An item that we desire but that is not essential for survival
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12
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Ambitious person who combines land, labor, and capital to create and market new goods and services
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1
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Land, labor, entrepreneurs, and capital
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8
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The effort that people devote to a task for which they are paid
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10
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Natural resources that are used to make goods and services
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11
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Something like air, food, or shelter that is needed for survival
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