75
Lesson 75 of 84 · Economics
Natural Resources and the Economy
Natural resources — water, timber, minerals, oil — are raw materials economies depend on. Countries with abundant resources often build industries around extracting them.
Key Facts
1
Trade connects people globally.
2
Every choice has an opportunity cost.
3
Money is a medium of exchange.
Check Your Understanding
Question 1
1 of 2What is an opportunity cost?