1. Vocabulary Review Week 1

2. The mental and physical skills needed to do a job
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

3. A temporary lack of goods and services
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

4. The second best alternative you could have had that you end up giving up
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

5. Unlimited wants for goods and services exceeds the limited resources
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

6. The ability to create ideas and organize resources and tasks in order to produce a good or service
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

7. The graph used to determine how much to produce of two goods (and how to use resources)
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

8. Resources that come from the earth
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

9. Choosing between two options
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

10. Physical items made by people that are used to produce other goods/services
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage

11. An actual person who does the job and their abilities
Trade-off Opportunity cost Land resource Human/Labor resource Entrepreneurship Capital resource Scarcity Human capital Production possibilities curve shortage