What a seller receives for a good or service. It is a signal which both consumers and producers use to compare alternative uses for resources. The price for the lemonade is 25 cents and the cookies cost 15 cents. A producer is one who makes goods, supplies and services. She is going to sell them once she picks them.
Resources are the inputs used in producing a good or service.
Resources are limited, so careful choices need to be made regarding their use. It shows the vehicles that help people's businesses and the natural resources are things that are a part of nature. The condition of limited resources is scarcity. When resources are limited, people must make choices. Supply is the quantity of a good or service that producers are willing and able to bring to market of each of a variety of prices.