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The next best choice that is given up when a decision is made
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
Focusing on one product or service
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
Virginia specializes in what?
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
People working to produce goods or services
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
Soil is an example of a
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
The people of Mali traded gold for salt with other people. This is an example of
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
The choice of or decision among alternatives or possibilities
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
People who use resources to make goods and/or provide services
opportunity cost
economic choice
shipbuilding and mining coal
human resource
producers
economic specialization
natural resource
interdependence
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