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1. absolute advantage 2. capital 3. command economy

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4. comparative advantage 5. consumer goods 6. consumer sovereignty

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7. economic growth 8. economic problem 9. Investment

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10. Productive resources: 11. natural resources 12. capital resource

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13. human resource 14. human capital

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15. Scarcity 16. choice 17. costs and benefits

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18. opportunity cost 19. marginal (added) cost 20. trade-offs

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21. laissez-faire economy 22. opportunity cost

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23. Market 24. Outputs

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25. Price 26. Production

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27. resources or inputs 28. three basic questions

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29. producers 30. consumers

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31. buyers 32. sellers

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33. production 34. distribution

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35. consumption 36. channels of distribution 37. marketing

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38. labor unions 39. labor contract

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40. negotiation 41. open/closed shop

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42. slow down 43. strike

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44. right to strike laws 45. right to work laws

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46. lockout 47. injunction 48. scab

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49. supply curve 50. demand curve

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49. equilibrium price 50. Elastic

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49. inelastic 50. Substitutes

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49. complements 50. Shortage 51. surplus

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58. price of the product 59. price of inputs 60. competition

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58. price of related (complementary or substitute) products 59. technological change

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58. consumer tastes 59. Preferences

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58. income levels 59. Factors of production (i.e., land, labor, capital, and entrepreneurship)

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58. Incentive 59. Profit

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58. risk 59. Price

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58. relative price 59. capital investment

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58. supply and demand 59. consumption vs. saving