Economics Flashcards
1
Q
Embargo
A
When a country will not trade with another country
2
Q
Tariff
A
A tax on imported goods crossing the border
3
Q
What is economics
A
Economics is the production and selling of goods
4
Q
Consumers
A
Consumers are people who buy the made goods like you or me
5
Q
Producers
A
The people who make the goods like Coca-Cola
6
Q
Trade
A
Giving one thing for another, today this is usually money
7
Q
Globalization
A
This is things like trading between countries or having different languages on signs
8
Q
What does GDP mean?
A
Gross Domestic Product
