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Bingo TermsBingo TermsScarcityScarcity *Scarcity*Scarcity
ProducerProducer *Entrepreneur*Entrepreneur
EconomistEconomist *Natural Resource*Natural Resource
Capital ResourceCapital Resource *Consumer*Consumer
Division of Labor Division of Labor *Need*Need
Self-Sufficient Self-Sufficient *Barter*Barter *Productivity*Productivity
InterdependenceInterdependence *Goods *Goods *Services*Services
Production Possibilities Curve *WantProduction Possibilities Curve *Want
Opportunity CostsOpportunity Costs *Money *Money
MacroeconomicsMacroeconomics *Credit *Credit
MicroeconomicsMicroeconomics *Utility *Utility
Land, Labor, Capital, EntrepreneurshipLand, Labor, Capital, Entrepreneurship
What is the value of the What is the value of the next best alternative given next best alternative given
up to obtain a particular up to obtain a particular item.item.
If a person satisfies their If a person satisfies their own needs and wants own needs and wants
without outside without outside assistance, they may be?assistance, they may be?
What is used to analyze What is used to analyze trade-offs and opportunity trade-offs and opportunity costs in producing specific costs in producing specific
combinations of goods.combinations of goods.
What is an action or What is an action or activity done for others for activity done for others for
a fee called?a fee called?
What is the level of output What is the level of output resulting from a given resulting from a given
level of input?level of input?
A manufactured item such A manufactured item such as machinery, that is used as machinery, that is used
to produce goods and to produce goods and services.services.
A natural item such as A natural item such as farmland, that is used in farmland, that is used in the production of goods the production of goods
and services.and services.
What forces people to What forces people to make decisions about make decisions about how to use resources how to use resources
effectively?effectively?
What is the reliance What is the reliance among economic actors among economic actors
known as?known as?
A situation in which each A situation in which each individual worker is individual worker is
assigned a small number assigned a small number of tasks.of tasks.
A term that refers to A term that refers to anything that is necessary anything that is necessary
for survival.for survival.
A term that refers to A term that refers to anything people consume anything people consume beyond what is necessary beyond what is necessary
for survival.for survival.
What is the process that What is the process that producers and consumers producers and consumers agree to provide one type agree to provide one type of item for another known of item for another known
as?as?