Chapter 1 Vocabulary quiz Worksheet

A stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.
The state of being scarce or in short supply; shortage.
The loss of potential gain from other alternatives when one alternative is chosen.
The part of economics concerned with single factors and the effects of individual decisions
the part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
Wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing.
The activity of setting up a business or businesses, taking on financial risks in the hope of profit.
Merchandise or possessions.
A transaction in which no physical goods are transferred from the seller to the buyer.
Capable of being touched; discernible by the touch; material or substantial.
Incapable of being perceived by the sense of touch,