1
A person is motivated to go to work
Incentive
The resources we have are limited
Scarcity
The very resources we use that the Earth provides us
Land
An item you would go to a store to buy
Good
A PS5
Want
A person has these things to survive
Need
A person works for Amazon they are considered
Labor
creating a spear with a knife and sticks
Utility
buying a Travis Scott burger from McDonald's
Consumers
turning meat into a burger to sell
Producers
While I will gain this I must lose this
Opportunity cost
Jeff Bezos himself
Entrepreneur
how beneficial a product is
Value
Me doing this project so I dont fail
Profit Motive
Ms, Wetzig selling candy cheaper then Robert to make more sells
Competition
A person needs gas so they must pay for it
Trade-off
You pay a company for them to fix your car
Service
Me doing this project
Productivity
owning a Koenigsegg
Wealth-
when a new technology allows things to be produces easier and cheaper
Economic growth
Fills the voids in our needs
Want
The basis all businesses have to operate
Capital
effectively managing the limited resources on a deserted island with the survivors of a plane crash
Economy
meeting with cooper to facilitate a price and buy his Jordan's
Market
Alex starting his own business
Free enterprise