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ECON_Topic #1: Fundamentals of Economics.

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Period:
Horizontales
The knowledge and skills a worker gains through education and experience.
Physical objects that someone produces, such as food, clothing, or video games.
Consumers demand more of a good or service than producers are willing to make available.
The effort people devote to tasks for which they are paid.
The use of fewer resources than the economy is capable of using.
Comparing what will be sacrificed and what will be gained upon making a particular decision.
Production shifts from making one item to another, more and more resources are necessary to increase production of the second item.
People who decide how to combine resources to create new goods and services.
The act of giving up one benefit in order to gain another, great benefit.
The study of how people seek to satisfy their needs and wants by making choices.
Limited amounts of goods and services are available to meet unlimited wants.
Choice facing the government between spending money on military or domestic needs.
Verticales
The use of resources in such a way as to maximize the output of goods and services.
Resources used to make all goods and services.
All natural resources used to produce goods and services.
The most desirable alternative somebody gives up.
Human-made resource that is used to produce other goods and services.
Actions or activities that one person performs for another.