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Y-AXIS: In a graph, this is one of two lines that intersect at a right angle. This is the "vertical axis" that runs up and down.

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SCARCE RESOURCES

Labor, capital, land, and entrepreneurship used by society to produce consumer satisfying goods and services. Scarce resources, also termed just resources, are often given the more descriptive term factors of production.

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Today, you are likely to spend a great deal of time at a garage sale trying to buy either a coffee cup commemorating the 2000 Olympics or a birthday gift for your grandmother. Be on the lookout for empty parking spaces that appear to be near the entrance to a store.
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The portion of aggregate output U.S. citizens pay in taxes (30%) is less than the other six leading industrialized nations -- Britain, Canada, France, Germany, Italy, or Japan.
"It is not because things are difficult that we do not dare; it is because we do not dare that they are difficult. "

-- Seneca, statesman, dramatist, philosopher

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