Economics Flashcards
Barter
When businesses trade their producer of services to get things they want or need
Economics
The management of resources of a country
Want
Something a person would like to have,but can like without
Need
Something a person must have to like
Producer
A person how makes goods to sell
Consumer
A person who buys goods or services
Transportation
The movement of goods, peoples or animals from one place to another
Globalization
Process in which a business makes something or provides services all around the world
Profit
The money a business has left over after the bills are paid
Technology
Development of scientific know to solve problems
Communication
A way to covey or deliver a message to another person or business
Opportunity cost
Something you give up in order to have something you want
Demand
When someone want a product
Urban
An area Within a city
Rural
An area out in a country