economics: section 2.3

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4 Terms

1
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prosperity

general economic success; the ability to enjoy many goods and service

2
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wealth

the value of goods and finances that a person owns

3
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  1. already existing

  2. increases

  3. new

  4. better

  5. reduce

  6. redistribute

fill in the blanks

the six ways to increase wealth…

  1. produce goods from _______ ______ services

  2. _______ the resources used for producing goods

  3. use _____ resources to satisfy wants

  4. make goods _______ at satisfying wants

  5. ______ people’s wants

  6. _________ wealth and resources

4
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  • labor

  • work

fill in the blank

the true source of wealth and prosperity is _______ or _____