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Economics

The document discusses key economic concepts such as goods, services, resources, specialization, currency, barter, opportunity cost, and more. It defines things like natural resources, capital resources, human resources, and assembly lines. Overall, the document provides definitions and explanations of fundamental terms and ideas in economics.

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285 views1 page

Economics

The document discusses key economic concepts such as goods, services, resources, specialization, currency, barter, opportunity cost, and more. It defines things like natural resources, capital resources, human resources, and assembly lines. Overall, the document provides definitions and explanations of fundamental terms and ideas in economics.

Uploaded by

api-314229616
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Good

ECONOMICS Service
Something that can An action that
be used or someone
consumed does to help
others
Barter
Human
Exchange 
Resource
(goods or services)
People working to
for other goods or
produce goods
services
and services
without using
money Natural
Resource
Capital Resource Materials that
Goods made by come
people directly
and used to produce from nature
other Assembly Line
goods and services An arrangement of
machines,
Currency
equipment and workers in
Medium of which work passes from
exchange operation to
for goods and operation in
services direct line until
Specialization the product is assembled
The process of making Opportunity Cost
the best use of When making a
resources choice between
in the production two things, the thing
of goods and services you choose to give
up in order to get
Alexis Panepinto something else

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