Trade Terms Flashcards
1
Q
The amount left over when the demand has been met
A
Surplus
2
Q
The action of buying and selling goods
A
Trade
3
Q
Exchange of goods or services for other goods or services
A
Bartering
4
Q
Resources transported into a country for sale
A
Import
5
Q
Resources transported out of a country for sale
A
Export
6
Q
When a country focuses on one resource in order to gain a surplus
A
Specialization
7
Q
A stock of a resource from which a person or place can be provided with the necessary amount of that resource
A
Supply
8
Q
The desire of purchasers or consumers for a particular item or resource
A
Demand
9
Q
Adventurers who traveled for place to place to trade
A
Merchant
10
Q
A supply of materials that can be used by a person or organization in order to function effectively
A
Resource
11
Q
A
