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1.Process of production.
5.Defined as the direct process if increasing the productive capacity of the economy through capital stock accumulation.
9.opportunity comes from the analysis that because resources are scarce, using it to satisfy a need denies us to use it for other opportunities
10.This law states, that given a fixed input, increases in variable input will result in increases in total production in decreasing rate.
12.The amount of goods and services which sellers are willing to sell or supply in the market at various alternative prices at a given point in time.
14.payment for the use of capital equipment in the production process
16.Raw Material
17.part of natural resources which are also used in production process
18.qualities of human resources of the owners and managers of business undertakings
19.Changes in supply due to factors other than price
20.Responsiveness of quantity supplied to changes in prices
2.Quantity supplied increases with price.
3.Situation wherein the quantity supplied is irresponsive to price changes.
4.Technical relationships between inputs and outputs.
6.Reflective payment for the productivity of the worker.
7.The price of the inputs used in the production process.
8.Given other factors fixed, this principle shows how as one increases one's variable factor in order to increase one's level of production, the additional contribution decreases at the same point.
11.Transforms raw materials
13.Human Work
15.Payment for Labor

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