Stud of how society chooses to allocate scarce resources

Study of specific segments of the economy

Are individuals that manufacture a good / service

Study the economy as a whole

Are the basic requirements and include food clothing and shelter. Without these humans cannot survive.

Risk taker who decides to invest time and money in a new idea

Individuals that buy goods / services but not necessarily use them?

Luxurious items not essential for human survival

Finished items that consumers consume

Person who buys a good / service (not necessarily for personal use)

Goods that produce other goods

Items that are essential for survival

Study of specific segments in the economy

The use of information technology in the production of goods and services.

Physical object that is consumed.

Finished items that consumers use directly

Major items used in the production process such as capital and capital goods.

shortage of resources

The study of how society chooses to allocate scarce resources into the production of goods / services.

Are the buildings, machinery, tools used in the production process.

Actions provided for a fee

Human efforts that help in the production of a good / service

examples include oil, gas, sun, etc.

Concerned with the status of the economy as a whole. Such as employment and poverty.

The risk taker who attempts to invest in a new business or idea