A. Key Terms and Concepts Directions: Match the terms with the descriptions. Write the letter of the correct answer in the blank provided. Not all of the choices will be used. 1. when consumers want more of an item a. goods b. economics than producers will offer at a particular price 2. the paid effort that a person devotes to a task c. shortage 3. physical objects such as baseballs or umbrellas d. labor e. land 4. the study of how people make decisions to satisfy their needs and wants f. capital g. services h. human capital 5. natural resources used to produce goods and services 6. knowledge gained from education and experience

A. Key Terms and Concepts Directions: Match the terms with the descriptions. Write the letter of the correct answer in the blank provided. Not all of the choices will be used. 1. when consumers want more of an item a. goods b. economics than producers will offer at a particular price 2. the paid effort that a person devotes to a task c. shortage 3. physical objects such as baseballs or umbrellas d. labor e. land 4. the study of how people make decisions to satisfy their needs and wants f. capital g. services h. human capital 5. natural resources used to produce goods and services 6. knowledge gained from education and experience

Economics Today and Tomorrow, Student Edition

1st Edition

ISBN:9780078747663

Author:McGraw-Hill

Publisher:McGraw-Hill

Chapter1: What Is Economics

Section: Chapter Questions

Problem 7AA

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