1	Economics		_____	refers to all of the tools, factories, and equipment used in the production process
2	Microeconomics		_____	condition that exist because there is not enough of something
3	Macroeconomics		_____	study of how individuals, etc choose to deal with the condition of scarcity.
4	Scarcity		_____	study of how entire nations deal with scarcity.
5	Land		_____	inclusive of all natural resource not just a random piece of property
6	Labor		_____	the next best alternative use of a resource
7	Capital		_____	to hold all other things constant
8	Entrepreneurship		_____	creates buinesses in new ways to provide a good or service
9	Opportunity cost		_____	people and their skills
10	Marginal benefit		_____	the benefit of a decision
11	Marginal cost		_____	primarily concerned with markets for goods, services, and resources.
12	Ceteris paribus assumption		_____	what it cost to produce or consume one extra unit