Economics Flashcards
(18 cards)
Barter
When businesses trade their products of services to get things they want or need
Economy
The management of resources of a country
Want
Something a person would like to have,but can live without
Need
Something a person must have to live
Producer
A person who makes goods to sell
Consumer
A person who’s buys goods or services
Transportation
The movement of goods, people or animals from one place to another
Globalization
Process in which a businesses make something or provides services all around the world
Profit
The money a business has left over after the bills,are paid
Technology
Development a of,scientific knowledge to,solve problems
Communication
A way to convey or deliver a message to another person or,business
Opportunity
Cost-something you give up in order to have something you want
Demand
When some one wants a product
Urban
An area within a city
Raul
An area out in the city
Interdependent
When people demand on each other for food good services and resources
Free enterprise system
When businesses decide what goods to make or services,and resources
Supply
The amount of product a business has
