Economics Flashcards

1
Q

Barter

A

When businesses trade their producer of services to get things they want or need

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2
Q

Economics

A

The management of resources of a country

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3
Q

Want

A

Something a person would like to have,but can like without

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4
Q

Need

A

Something a person must have to like

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5
Q

Producer

A

A person how makes goods to sell

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6
Q

Consumer

A

A person who buys goods or services

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7
Q

Transportation

A

The movement of goods, peoples or animals from one place to another

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8
Q

Globalization

A

Process in which a business makes something or provides services all around the world

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9
Q

Profit

A

The money a business has left over after the bills are paid

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10
Q

Technology

A

Development of scientific know to solve problems

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11
Q

Communication

A

A way to covey or deliver a message to another person or business

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12
Q

Opportunity cost

A

Something you give up in order to have something you want

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13
Q

Demand

A

When someone want a product

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14
Q

Urban

A

An area Within a city

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15
Q

Rural

A

An area out in a country

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16
Q

Interdependent

A

When people depend On each other for good,services,and resources

17
Q

Free enterprise system

A

When businesses decided what goods to make or services to sell

18
Q

Supply

A

The amount of product a business has