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Unit 7 part 1
unit 7 part 1
Question | Answer |
---|---|
Barter | Exchange goods without involving money. |
Benefit | To gain or receive good results from something |
Command economy | An economic system in which the government makes all economic decisions. |
Commodities | a raw material or primary agricultural product that can be bought and sold, such as copper or coffee. |
Development | improvement in human well-being through economic advancement |
Distribute | to divide among a group of people |
Economics | studies the production, distribution, and consumption of goods and services. |
Export | send (goods or services) to another country for sale. |
Import | to bring a product into a country to be sold |
Inflation | A continuous rise in the price of goods and services |
Innovation | something new, a change; the act of introducing a new method, idea, device, etc. |
Maritime trade | The exchange of goods using sea routes |