ss chapter 16

Question 1

Productive Capacity

Answer 1

is maxumiam output of an economy

Question 2

Division of Labor

Answer 2

is the way work tasks are seperated

Question 3

Specialization

Answer 3

the concetraction of production

Question 4

Market

Answer 4

A market is a place or system where buyers and sellers interact to exchange goods and services.

Question 5

Global Economy

Answer 5

The global economy refers to the interconnected economies of countries around the world, influenced by trade, investment, and capital flows.

Question 6

Interdependence

Answer 6

Interdependence refers to the mutual reliance between two or more groups, organizations, or species.

Question 7

Exports

Answer 7

are goods and sevices that are produced

Question 8

imports

Answer 8

are goods and services that are bought

Question 9

Trading Partners

Answer 9

A trading partner is an entity, such as a company or country, with which another entity conducts trade.

Question 10

Financial Security

Answer 10

safety in economics matters