Economics: SCARCITY

What class are you in right now?

Desires than can be satisfied by consuming a good or using a service.

When there are not enough resources to satisfy human wants.

Things that are necessary for survival.

A person who buys goods or services.

Physical objects that can be bought.

The study of how individuals and societies satisfy their unlimited wants with limited resources.

Work that one person does for another.

A person who makes a good or provides a service.

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