Lesson 4
Useful material found in the environment
Natural Resource
People or business that buy, or consume, goods and services
Consumer
Nonrenewable resource formed over millions of years
Fossil Fuel
People or business that make and sell goods and/or service
Producer
Variety of different organisms living in same region or ecosystem
Biodiversity
Is the study of how people meet their wants and needs
Economics
Loss of forest cover that results from so many trees being removed that trees cannot grow back
Deforestation
The cost of what you give up when making a decision
Opportunity Cost
Growth of machine-powered production and manufacturing
Industrialization
A key tool in money management, helping ensure you don't spend more than your income
Budget/Budgeting