Alex House P. 7
natural resources- metal, petroleum/coal, silicon for the microchips inside the technology
human resources- engineers, factory workers
ScarcitySupply is limited, but needs/wants are unlimited
Opportunity costThe cost of doing A is B. I cant do B without A.
3 economic resourcesHuman, natural, capital
Laws of supply and demandAs the price goes up quantity of demand goes down.
Be able to g