What is found in nature; not man-made.

You answered: natural resource

Person or business that uses a good or service. Customer.

You answered: consumer

Tools. Goods that are used to make other goods or provide services.

You answered: capital resource

Something that people want that you can hold, touch, and see.

You answered: good

People are producers and consumers.

You answered: true

When there's not enough of something you want.

You answered: scarcity

Resource found in people, such as their skills and ideas.

You answered: human resource

Something people do for other people.

You answered: service

_________ is the study of how resources are used to provide goods and services that satisfy human wants and needs.

You answered: economics

Businesses like to sell at ____ prices, while consumers like to buy at ____ prices. (low, high)(high, low) (high, high) (low, low)

You answered: high, low

Person or business that makes a good or provides a service.

You answered: producer

The best thing you give up when you choose something.

You answered: opportunity cost

Making a _______ involves knowing the PROBLEM, listing ALTERNATIVES, listing CRITERIA, EVALUATING, and making a DECISION.

You answered: choice

How much of something there is available to sell at a given price and time.

You answered: supply

There aren't enough books for everyone to have 1. This is an example of _________.

You answered: scarcity

_________ makes trade easier. Also, it is a capital resource.

You answered: money

How much people are willing and want to buy at a given price and time.

You answered: demand

When something is scarce, the price goes ____.

You answered: up

Exchange of goods or services using money or by bartering.

You answered: trade

When making a choice, listing alternatives, listing criteria, and evaluating is the same as considering the costs and benefits.

You answered: true

Will there always be an opportunity cost when you make a choice?

You answered: no

At Pizza Hut, the building, ovens, cash registers, boxes, plates, and pans are examples of what resource?

You answered: capital resource

Can weather affect price?

You answered: yes

Peter could buy a book, a video game, or a toy. He chose to buy the video game. His second choice was the book, and his third was the toy. What was his opportunity cost of buying the video game?

You answered: book

A waitress, a teacher, and a sales clerk all provide a __________.

You answered: service