allocate		distribute (resources or duties) for a particular purpose.
barter		the action or system of exchanging goods or services without using money.
capital good		a measure of the benefit provided by a good or service to an economic agent.
capital resource		durable good that is used in the production of goods or services.
consumer		rivalry among sellers trying to achieve such goals as increasing profits.
consumer good		a term used by economists to describe the measurement of "useful-ness" that a consumer obtains from any good.
credit		someone who creates and supplies goods or services.
division of labor		the state or quality of being efficient.
economics		an expert in economics.
economist		an economic measure of output per unit of input.
efficiency		A benefit, profit, or value of something that must be given up to acquire or achieve something else.
entrepreneur		The purposeful application of information in the design, production, and utilization of goods and services.
exchange		the inputs that are used to create things or help you provide services.
factors of production		production of goods or services in order to make an economic profit.
good		the ability of a customer to obtain goods or services before payment, based on the trust that payment will be made in the future.
competition		an act of giving one thing and receiving another
money		when a nation or individual concentrates its productive efforts on producing a limited variety of goods.
natural resources		the limited availability of a commodity, which may be in demand in the market.
opportunity costs		a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so.
producer		a medium of exchange in the sense that we all agree to accept it in making transactions.
productivity		materials that satisfy human wants and provide utility.
resource		the branch of knowledge concerned with the production, consumption, and transfer of wealth.
scarcity		the purchase of goods that are not consumed today but are used in the future to create wealth.
self-sufficiency		an economic activity where an immaterial exchange of value occurs.
service		a person who purchases goods and services for personal use.
specialization		goods made and used to produce other goods and services.
technology		a sacrifice that must be made to get a certain product or experience.
trade-off		goods bought and used by consumers, rather than by manufacturers for producing other goods.
utility		the assignment of different parts of a manufacturing process or task to different people in order to improve efficiency.
value		Asset or material that constitutes the natural capital of a nation. Read more: http://www.businessdictionary.com/definition/natural-resource.html
investments		the state of not requiring any aid, support, or interaction for survival.