Vocab
Not having enough resources
Scarcity
Good that lasts three years or more.
Durable Good
What year was the worst drought in the United States in half a century?
2012
people try to satisfy seemingly unlimited and competing needs and wants through the careful use of relatively scarce resources.
economics
Item that lasts for fewer than three years.
Nondurable Good
Ethanol is a form of alcohol made from what?
Corn
accumulation of products that are tangible, scarce, and have utility.
wealth
Intended for final use by individuals
Consumer Good
Drought causes what to prices?
Go up
ability or capacity to be useful.
Utility
machinery or equipment for business
Capital Good
How many goods were covered this week?
4
monetary value of all final goods.
GDP
useful, tangible
Good
What are the types of infrastructure that are affected by natural disasters?
Land, Sea, and Air.