The inability to satisfy all wants at the same time.
Basics of Economics

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Social Studies
•
7th - 8th Grade
•
Hard
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1.
FLASHCARD QUESTION
Front
Back
scarcity
2.
FLASHCARD QUESTION
Front
Factors of production that include natural, human, capital, and entrepreneurship.
Back
resources
3.
FLASHCARD QUESTION
Front
These are resources found in nature.
Back
natural resources
4.
FLASHCARD QUESTION
Front
These are resources that people can do such as being a teacher or a delivery driver.
Back
human resources
5.
FLASHCARD QUESTION
Front
Products that humans create for a purpose.
Back
capital resources
6.
FLASHCARD QUESTION
Front
This is making money from any type of resource.
Back
entrepreneurship
7.
FLASHCARD QUESTION
Front
The selection of an item or action from a set of possible alternatives.
Back
choice
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