Bad Mr. S

2. an economic sense, is the accumulation of those products that are tangible, scarce, useful, and transferable from one person to another
3. a nation's total output of goods and services increases overtime
6. a risk-taker in search of profits who does something new with existing resources
10. market
12. item that is economically useful or satisfies an economic want, such as a book, car, or compact disc player
14. the capacity to be useful and provide satisfaction
17. refers to the "gifts of nature" not created by humans. "Lands" include deserts, fertile fields, forests, mineral deposits, livestock, sunshine, and the climate necessary to grow crops
19. location or other mechanism that allows buyers and sellers to exchange a certain economic product
20. good
21. goods
22. the tools, equipment, machinery, and factories used in the production of goods and services
24. the study of how people try to satisfy what appears to be seemingly unlimited and competing wants through careful use of relatively source resources
25. to a worth that can be expressed in dollars and cents
27. for final use by individuals
28. a basic requirement for survival and incldues food, clothing and shelter
29. people with their efforts, abilities, and skills

1. the money used to buy the tools and equipment used in production
4. markets where productive resources are bought and sold
5. that is performed for others
7. the process of creating goods and services, can take place
8. a way of expressing a need
9. between necessities and value
11. goods are used to produce other goods and services
13. markets
15. of value
16. where producers sell their goods and services to consumers
18. the dollar value of all final goods and servicee, and structures produced within a country's bonders in a 12 month period
23. and services that are useful, relatively scarce, and transferable to others
26. resources required to produce the things we would like to have, are land, capital, labor, and entreprenuers