Chapter 2 Section 1 Vocabulary
Capital
Human Capital
Physical Capital
Consumers
Indicators
Producers
Consumer Price Index
Inflation
Recession
Economics
Labor
Scarcity
Factors of Production
Land
Unemployment Rate
Gross Domestic Product
Opportunity Cost
Utility
1. The measure of happiness or satisfaction. ____________________________________
2. The next best choice you give up in order to do something else.
__________________________________
3. Any resource used by humans to make other goods and services.
_________________________
4. All natural resources used to make goods and services.
5. Human-made objects used to make goods and services.
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6. The work people do to provide goods and services. _________________________
7. What a worker gains from education and experience.
__________________________________
8. The resources that are used to make goods and services.
_________________________________
9. An economic downturn. ___________________________________
10. When the average price of goods goes up sharply. ____________________________
11. Used to measure changes in the prices of goods and services from month to month.
_____________________________________
12. The percentage that measures the number of unemployed people looking for jobs.
_________________________________
13. There is never enough of everything to satisfy everyone completely.
________________________
14. The study of how people produce, distribute, and use goods and services.
_______________________
15. Tools used to measure the health of the economy. ________________________
16. The companies or individuals who make or provided goods and services.
____________________________
17. People who purchase and use goods and services. _______________________________
18. The total value of all goods and services produced in a country.
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