Grade 3 Social Studies: Unit 2 Student VocabularyAuthor:
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3. capital resources
6. opportunity cost
14. natural resources
0. to trade goods for other goods without using money
1. better ways of doing things
2. the next best (second-best) choice that is given up ...
3. not having enough resources to produce all the ...
4. a person who makes or grows something
5. occurs when there is not enough of something
6. things that can be used to produce a good or a service
7. the act of seeing or finding out something for the first time
8. do only one kind of job in the production of a good or services
9. tools, machines, methods, and other things used to perform ...
10. a good or service made with resources
11. a thing based on a new idea or way of doing things
12. different ways of communicating
13. people who buy and use goods and services to meet eco wants
14. occurs when people can’t get everything they want
15. depending on each other