a can be defined as whatever people use to create services and goods.

The missing word in the sentence “a can be defined as whatever people use to create services and goods” is resource.

Corrected sentence

A resource can be defined as whatever people use to create services and goods.

In economics, resources (also called factors of production) are the inputs used to produce goods and services, such as land, labor, capital, and entrepreneurship.

Quick Scoop

• Product is the output that gets sold; it is not what people use to create goods and services.

• Value is the worth or usefulness of a product or service to consumers, not the input used in production.

• Cost is what must be paid to obtain a good or service, again not the input itself.

• Resource specifically refers to what people use to create goods and services, so it fits the definition in your sentence.

In short, when you see a definition like “whatever people use to create services and goods,” think of resources (the ingredients of production), not the finished products.