vocabulary part two

Question 1

Productive Capacity

Answer 1

The maximum output of an economy or, the total amounts of goods and services that can be produced

Question 2

Division of Labor

Answer 2

The way work tasks are separated

Question 3

specialization

Answer 3

The concentration on production on fewer kinds of goods and services than are consumed

Question 4

Market

Answer 4

a system of trade

Question 5

Global Economy

Answer 5

What we call the wold wide market where countries buy and sell things

Question 6

Interdependence

Answer 6

relationship in which each member of a group relies on the other members for something they need

Question 7

Export

Answer 7

are the goods and services that are produced and then sold to other countries or regions

Question 8

Imports

Answer 8

goods and services that are bought and brought in from other regions or countries

Question 9

Trading Partners

Answer 9

countries and regions that trade with each other

Question 10

Financial Security

Answer 10

safety in economic matters