economics

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What was the most interesting thing that you learning in this class so far?

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RESOURCES are Limited and HUMAN WANTS are Unlimited which results in Scarcity which means people must make Choices In order to answer the questions:

• What goods will be produced?

• How will the goods and services be produced?

• Why will goods and services will be produced?

• Who will consume the goods and services

A want is

• something we must have to live

• something we would like to have

What is it called when you give one thing to get something else?

• switch

• trade

Choose a service.

• walking the dog

• shoes

An example of a Natural Resource is

• 
• 
• 

Water is a ____________________.

• Want

• Need

But RESORCES are ___________ and HUMAN WANTS are ___________

• Limited

• Millions

• Unlimited

• One