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12 cards from this deck
Goods with opportunity cost & scarcity
Goods with 0 opportunity cost & no scarcity
Objective, factual statement supported by evidence
Subjective, value-based judgement/opinion
Limited resources cannot satisfy unlimited wants
Scarcity means choices must be made on allocation
Next best alternative foregone when choice is made
Capital, Enterprise, Land, Labour
Human-made inputs e.g. machines, buildings
Entrepreneurial ability organising factors e.g. CEOs
Natural resources e.g. ores, oil, trees
Human workers/effort e.g. employees
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