MICROECONOMICS
ENTREPRENEURSHIP
LABOR
CAPITAL
RESOURCES IN ECONOMICS
ECONOMISTS
MACROECONOMICS
SCARCITY
LAND
individual economic agents such as households, markets, and decisions within the context of scarcity and resource allocation.
innovative resource management for business creation and growth.
analysts who study trends, markets, and policies to understand and predict financial behavior, contributing insights to various industries.
Natural resources used in production, including physical land, minerals, water, and other elements from the environment.
Economic study of larger systems, including national economies, focusing on factors like growth, inflation, and unemployment.
Human physical and mental effort devoted to the production of goods and services.
All of the tools, factories, and equipment used in the production process
Inputs used to produce goods and services, including natural resources, labor, capital, and entrepreneurship.
Limited availability of resources compared to the unlimited wants and needs of individuals and society, leading to the need for allocation decisions.