economics Flashcards
demand
the ability and desire to purchase goods or services at a specific time and price
dependent
to rely on another
export
to send goods and services abroad especially for sale in another country
goods
manufactured articles or products
import
to bring goods or services into a country from another country usually for selling
industry
the businesses that provide a particular product or service
interdependence
to depend or rely on one another
manufacturing
making from raw materials or natural resources by hand or by machinery
natural resource
something such as a mineral water-power source forest or kind of animal found in nature and is available to humans
needs
something that is necessary for humans to live a healthy life
production
to create something by work
scarcity
lacking in quantity or number
trade
the business of buying and selling items
wants
desire or wish for things
