Economics

Question 1

Barter

Answer 1

When business trade their products of services to get things they want or need

Question 2

Economy

Answer 2

The management of recourses of a country

Question 3

Want

Answer 3

Something a person would like to have, but can live without

Question 4

Need

Answer 4

Something a person must have to live

Question 5

Producer

Answer 5

A person who makes goods to sell

Question 6

Consumer

Answer 6

A person who buys goods or services

Question 7

Transportation

Answer 7

The movement of goods, people or animals from one place to another

Question 8

Globalization

Answer 8

Process in which a business makes something or provides services all around the world

Question 9

Profit

Answer 9

The money a business has left over after the bills are paid

Question 10

Technology

Answer 10

Development of scientific knowledge to solve problems

Question 11

Communication

Answer 11

A way to convey or deliver a message to to another person or business

Question 12

Opportunity cost

Answer 12

Something you give up in order to have something you want

Question 13

Demand

Answer 13

When someone wants a product

Question 14

Urban

Answer 14

An area within a city

Question 15

Rural

Answer 15

An area out in the country

Question 16

Interdependent

Answer 16

When people depend on each other for good, services, and recourses

Question 17

Free enterprise system

Answer 17

When businesses decide what goods to make or services to sell

Question 18

Supply

Answer 18

The amount of product a business has