Lots Of Economics In S.S PT.2 Flashcards
1
Q
Specialization
A
the concentration of of production on fewer kinds of goods and services
2
Q
Market
A
A system of trade
3
Q
interdependence
A
in which each member of a group relies on the other
4
Q
imports
A
the goods and services that are bought from other regions
5
Q
export
A
the goods and services that are produces from other groups and reighions
6
Q
trading partner
A
countries and regions that trade
7
Q
What we call the world wide market
A
global economy
8
Q
division of labor
A
the way work tasks are seperated
9
Q
financial secerity
A
safety in economic matters
10
Q
productive capcity
A
the maximam output of an economy
11
Q
A
