ss Flashcards
material form the earth that people use to meet their needs
natural resources
matural resources that can be replaced naturaly or grown agian
renewable resources
natural resources such as a mineral that cannot be replaced
nonrenewable resources
system that sets rules for deciding what goods and services to produce how to produce them and who will recive them
economic system
country with an economy that has a mix of agriculutre a great deal of manufacturing and servicies indesrties and that is very productive and provides its people with a high standard of living
developed country
country that has a limited indestry where agriculture remains improtant incomes are generally low
developing country
country that is creating new manufacturing and businesses
newly industrialized country
to sell goods or resources to another country
export
to buy resouces or goods from other countries
import
tax added to the price of goods that are imported
tariff
number limit on how many iteams of a particluar product can be imported from a certain nation
quota
removal of trade restictions so that goods flow freely among countries
free trade
conditions that exist when countries rely on each for ideas goods services and markets
interdependence
