UTK: Econonomics 201 - Chapter 1

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Anonymous
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34955
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UTK: Econonomics 201 - Chapter 1
Updated:
2010-09-15 17:09:48
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Econ University Tennessee Economics
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Chapter 1
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  1. Define: Economics
    Study of how people use their scarce resources to satisfy their unlimited wants.
  2. Define: Resources
    The Inputs,or factors of production,used to produce the goods and services that people want; resources consist of labor, capital, natural resources,and entrepreneurial ability.
  3. Define: Labor

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