Ch. 1 Vocabulary Worksheet

The problem we face when trying to satisfy unlimited wants with limited resources.
Things we buy at a store that you can see and touch.
Things necessary for survival such as food, clothing, and shelter.
Resources businesses use to produce goods and services.
The process of choosing which wants and needs will be satisfied.
Tools, equipment, and buildings used in producing goods and services.
People who work to produce goods and services.
Raw materials supplied by nature.
Things that other people do for us.
Things not necessary for survival but that add comfort to our lives,