Econ Unit 1 Vocab Flashcards
1
Q
Economics
A
limited resources for human wants.
2
Q
Need
A
Must have to survive
(food, shelter, clothes)
3
Q
Scarcity
A
Limited resources
4
Q
Trade-Off
A
Something you give up when making a choice.
5
Q
Small Units
A
Microeconomics
6
Q
U.S. central banking
A
Federal Reserve