Economics Revision Scarcity: not having enough of something that may lastly run out, comparable oil. Natural Resources: different types of materials and essenti bothy everything that comes from nature. function: different jobs that different people do in hunting lodge to provide wants and needs of other, e.g. teachers. Free Goods: all the different things like air that you bulge out without limit. needs: things like food, air, water, etc. that atomic number 18 innate for survival. Wants: things that people are willing to cast off, but softwood live without, e.g. PS3. Goods: products that companies manufacture to sell to humans to satisfy their wants. set cost: choosing one thing and not the other. The thing that you didnt choose is the opportunity cost. Production: any activity intended to satisfy peoples wants. Theyre produced by producers. Consumption: is using up goods and services to satisfy our wants. Exchange: is when one can indorse something from someone to another thing he can drop from you. Wants are created by 2 different ways: - ! 1. Advertisements (high-tech ads). By using clever slogans and catch phrases for persuasion. 2. Making new...If you want to maintain a full essay, order it on our website: BestEssayCheap.com
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