Economics And Government Systems

Question 1

Export

Answer 1

Send (goods or service) to another country for sale

Question 2

Interdependence

Answer 2

Dependence of two or more people or things on each other

Question 3

Import

Answer 3

Bring (goods or service) into a country from abroad for sale

Question 4

Hidden costs

Answer 4

Expense not normally included in the purchase price of an equipment or machine, such as for maintenance, supplies, training, and upgrades

Question 5

Migration

Answer 5

Movement of people to a new area or country in order to find work or better living conditions

Question 6

Industry

Answer 6

Economic activity concerned with the processing of raw materials and manufacture of goods in factories

Question 7

Natural resources

Answer 7

Natural resource May exist as a separate entity such as fresh water, air, and as well as a living organisms such as a fish, or it may exist and alternate form that must be processed to obtain the resource such as metal ores, rare earth metals, petroleum, and most forms of energy