GHNN Flashcards
1
Q
Market
A
For people to trade goods and services
2
Q
Bartering
A
Trading a good or service for another
3
Q
Profit
A
The money of a company has leftover after subtracting the cost of doing business
4
Q
Revenue
A
The money earned by selling goods and services
5
Q
Competition
A
Store A vs. B
6
Q
Inflation
A
When prices increase over time
7
Q
Specialization
A
Concentrating on a limited number of good or services
8
Q
Recession
A
When economy doesn’t grow for 6 months or more
