Economics Flashcards
Barter
When businesses trade their products of services to get things they want or need
Economy
The management of resources of a country
Want
Something a person would like to have,but can live without
Need
Something a person must have to live
Producer
A person who makes goods to sell
Consumer
A person who’s buys goods or services
Transportation
The movement of goods, people or animals from one place to another
Globalization
Process in which a businesses make something or provides services all around the world
Profit
The money a business has left over after the bills,are paid
Technology
Development a of,scientific knowledge to,solve problems
Communication
A way to convey or deliver a message to another person or,business
Opportunity
Cost-something you give up in order to have something you want
Demand
When some one wants a product
Urban
An area within a city
Raul
An area out in the city