Scarcity - The basic economic problem caused by limited resources and unlimited wants., Resources - Land, labor, capital, and enterprise are types of these., Enterprise - The factor of production involving risk-taking and management., Labour - A limited resource that refers to the workforce available., Shortage - A temporary situation where demand exceeds supply., Goods - Items like food, clothing, and electronics that satisfy wants., Utility - The satisfaction or benefit derived from consuming a product., Wants - These are unlimited and drive the economic problem of scarcity., Demand - The willingness and ability of consumers to purchase goods and services., Economic - The type of goods that require scarce resources to produce, like cars and computers., Opportunity Cost - The next best alternative foregone when a choice is made., Advertising - This creates new wants and influences consumer behavior., Free - A type of good that is abundant and does not have an opportunity cost, like air., Finite - The term that describes the limited nature of resources., Ceteris Paribus - A Latin term meaning "other things being equal," used in economics to isolate the effect of one variable.,

3. Consolodation Crosswod

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