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Flashcards in Economics Deck (18)
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1

Barter

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

2

Economy

The management of resources of a country

3

Want

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

4

Need

Something a person must have to live

5

Producer

A person who makes goods to sell

6

Consumer

A person who's buys goods or services

7

Transportation

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

8

Globalization

Process in which a businesses make something or provides services all around the world

9

Profit

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

10

Technology

Development a of,scientific knowledge to,solve problems

11

Communication

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

12

Opportunity

Cost-something you give up in order to have something you want

13

Demand

When some one wants a product

14

Urban

An area within a city

15

Raul

An area out in the city

16

Interdependent

When people demand on each other for food good services and resources

17

Free enterprise system

When businesses decide what goods to make or services,and resources

18

Supply

The amount of product a business has