Ch.18 Sec.1

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  1. the study of how individuals and nations make choices about ways to scarce resourses to fulfill their needs and wants
    economics
  2. requirements for survival, such as food, clothing, and shelter
    needs
  3. things we would like to have, such as entertanment, vacations, and items that make life comfortable and enjoyable
    wants
  4. not having enough recources to produce all of the things we would like to have
    scarcity
  5. simplifed representation of the real world that economists develope to describe how the economy behaves and is expected to prefom in the future
    economic

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Anonymous
ID:
3925
Card Set:
Ch.18 Sec.1
Updated:
2010-01-09 19:50:39
Tags:
Soc. Studies
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