1. Economics is the study of how people make choices to satisfy ________with________. The fact that resources are limited is called__________. We can satisfy our economic wants with _________, which is a term that includes both goods and services. Pancakes are an example of a_____________because they are tangible, and they are made by combining_________(flour and water) with_________(a whisk) using_________(human work)

Choices are the following:

1. land
2. labor
3. capital
4. good
5. unlimited wants
6. service
7. limited resources
8. scarcity
9. products
10. needs