Economics: Chapter 1+2

6. process of creating goods and services
7. a work that is performed for someone
8. worth that can be expressed in dollars or cents
9. risk taker in search of profits who does something new with existing resources
11. item that is economically useful
13. used to buy capitals
15. people with all their efforts, abilities, and skills
18. and services that are useful, relatively scarce, and transferable to others

1. the tools, equipment, machinery,and factories used in the production of goods and services
2. labor, capital, entrepreneurs
3. manufactured goods are used to produce other goods and services
4. results from society not having enough resources to produce all the things people would like to have
5. good, intended for final use by individuals
10. requirement for survival
12. of expressing a need
14. study of how people try to satisfy unlimited wants
16. the dollar value of all financial goods and services
17. gifts of nature