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Social Studies

Social Studies Test

Who is someone who buys goods? consumer
The amount of something consumers are willing to buy for a certain price demand
Things made by people that help workers make goods or provide services capital resources
A building workers make goods. factory
To buy goods or services from sellers in other countries. import
All of the people and compaines that sell similar goods or services industry
A diagram that shows how something is done. flow chart
Someone who makes and sells goods. producer
A place where people buy and sell goods. market
The skills, knowledge, and hard work that people bring to their jobs. human resources
The amount producers will make for a certain price. supply
A team of specialized workers assembly line
To send goods or services to another country for trade or sale. export
The right of producers to sell what they want and consumers to buy what they want. free enterprise
When the price is high, producers usually make more things and provide more services.
At higher prices, consumers buy less
At lower prices, cosumers buy more
Created by: Taylor Tidwell