Resources - satisfying our wants and needs.

wants

have the desire to possess or do

Earned income

includes all the taxable income and wages you get from working.

Enterprise

is the resource provided by people who organise, fund or manage production. We call a person who provides enterprise an entrepreneur.

Labor

is the resource provided when people do work (physical and mental). Sometimes the knowledge and skills of workers is referred to as human capital.

economists

A person who studies economics.

sustainability

An ability or capacity of something to be maintained or to sustain itself.

Capital Income

Capital is something that is owned by someone you get provided with income.

Economics

Is the study of the economic systems

economic problem

People have unlimited wants but we don't have a unlimited amount of resources to satisfy therefor you need to make a choice.

Income

The amount of money received during a period of time in exchange for labor or services, from the sale of goods or property, or as a profit from financial investments.

Entrepreneur

a person who sets up a business or businesses, taking on financial risks in the hope of profit.

resources

a stock or supply of money, materials, staff, and other assets that can be drawn on by a person or organization in order to function effectively.

Capital resources

are any human-made objects used to make or provide things and which are not immediately used up in the production process. Examples include tools, equipment, machinery, vehicles and buildings.

Land resources

come from the natural environment, and include soil, plants, animals and minerals. Other names for this type of resource are physical resources and natural resources.

needs

of necessity

economy

the state of a country or region in terms of the production and consumption of goods and services and the supply of money.