1.01 Basic Economics

2. another name for Human Resources.
6. anything from nature used to produce goods and services.
8. indicates perfect use of the available resources resulting in a point on the frontier.
9. the way products are produced and distributed.
10. any person used to produce goods and services.
12. getting more resources allowing you to push the PPF outward.
13. A graphical representation showing all of the possible options of output using all the factors of production.

1. tools and equipment used to produce goods and services.
3. temporary lack of products.
4. any point inside the PPF indicating that resources are being wasted.
5. another name for Natural Resources.
7. the people who organize the land, labor, and capital to produce goods and services.
9. the study of the production, distribution, and consumption of wealth.
11. never having enough resources to satisfy everyone's wants and needs
14. demonstrates how money moves from producers to households and back again in an endless loop.