This is NOT a factor of production

The study of how people or nations use their scarce resources to satisfy their unlimited wants and needs.

Examples are money, buildings, equipment, and tools

This is also referred to as human resources

Refers to the fact that people want more than they can have

This is the type of economic system with the most freedom to run a business.

This is the economic system that has the most government control.

The United States is an example of this type of economic system

The following is NOT an example of a natural resource

People who invest time and money to run a business

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