Section 3 Resources, Technology, and World Trade Flashcards
Are materials from the Earth that people use to meet their needs.
Natural resources
Something that can be replaced.
Renewable resources
Something that cannot be replaced.
Nonrenewable resources
I the method used to answer three key questions: what goods and services to produce, how to produce them, and who will recieve them.
Econmic system
Has a mix of agriculture, a great deal of manufaccturing, and service industries.
Developed country
Countries with economies that are not as advanced.
Developing Countries
A country that is becoming more industrial.
Newly industrialized countries
Sell to other countries.
Export
To buy from other counrties.
inport
Tax added to the price of goods that are imported.
Tariffs
Is a limit on how many items of a particular product that can be imported from a certain nation.
Quota
The removal of trade limits so that goods flow freely among countries.
Free trade
When countries rely on each other for ideas, goods, services, and markets.
Interdependence
