What is economics?
0.0(0)
Studied by 4 people
Call Kai
Learn
Practice Test
Spaced Repetition
Match
Flashcards
Knowt PlayCard Sorting
1/6
Last updated 11:57 PM on 8/30/25
Name | Mastery | Learn | Test | Matching | Spaced | Call with Kai |
|---|
No analytics yet
Send a link to your students to track their progress
7 Terms
1
New cards
economics
the study of how people deal with scarcity
2
New cards
scarcity
the unavoidable, inescapable fact of life that our resources are limited but our needs are unlimited
3
New cards
human resources
workers, people, skills
4
New cards
capital resources
machines, equipment, computers
5
New cards
natural resources
wood, water, corn, coal, gold, oil
6
New cards
to economize
getting/making the most out of what little they have
7
New cards
economy
the trade system used to satisfy needs
Note 
Flashcards (92)