Economics

Question 1

Barter

Answer 1

When business trade their products of services o get things they want or need.

Question 2

Economy

Answer 2

The management of the recorded of a country.

Question 3

Want

Answer 3

Something you would like to have, but don’t need.

Question 4

Need

Answer 4

Something a person must have to live.

Question 5

Producer

Answer 5

A person who makes goods to sell.

Question 6

Consumer

Answer 6

A person who buys goods or services.

Question 7

Transportation

Answer 7

The movement of goods, people, and animals from one place to another.

Question 8

Globalization

Answer 8

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

Question 9

Profit

Answer 9

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

Question 10

Technology

Answer 10

Development of scientific knowledge to solve problems.

Question 11

Communication

Answer 11

A way to convey or deliver a message to another person or business .

Question 12

Opportunity Cost

Answer 12

Something you give up in order to have something you want.

Question 13

Demand

Answer 13

When someone wants a product.

Question 14

Urban

Answer 14

An area within a city.

Question 15

Rural

Answer 15

An area out in the country.

Question 16

Interdependent

Answer 16

When people depend on each other for goods, services, and resources.

Question 17

Free Enterprise System

Answer 17

When businesses decide what goods to make or services to sell.

Question 18

Supply

Answer 18

The amount of product a business has.