Economics Flashcards
Barter
When business trade their products of services o get things they want or need.
Economy
The management of the recorded of a country.
Want
Something you would like to have, but don’t need.
Need
Something a person must have to live.
Producer
A person who makes goods to sell.
Consumer
A person who buys goods or services.
Transportation
The movement of goods, people, and animals from one place to another.
Globalization
Process in which a business makes something or provides services all around the world.
Profit
The money a business has left over after all the bills are paid.
Technology
Development 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 someone wants a product.
Urban
An area within a city.
Rural
An area out in the country.
