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Madalynn II
SS Final '09-'10 II
Question | Answer |
---|---|
producer | someone who makes and sells a product |
assembly line | each worker adds one kind of part as it passes on a moving belt |
industry | is all the companies that make the same product or provide the same service |
capitol | money used to start or improve a business |
human resource | the workers |
raw material | natural resources needed to make something |
capitol resource | money to run a business |
product map | a map that uses symbols to show where products come from |
agriculture | raising of crops and farm animals for sale |
technology | the use of new inventions in everyday life |
advertisement | information that a business provides about its goods and services |
patent | a government paper saying that only the inventor has the right to make or sell his own invention |
innovation | new ideas and products |
specialize | is to do just one kind of work or sell just one kind of product |
overhead | the money it takes to run a business, it includes rent, electricity, heating |
wage | the money a worker is paid for the work he or she does |
profit | amount of money that is left over after all the costs of running a business have been paid |
marketing | the job of getting customers to want a product |
competition | the effort o get more customers |
free enterprise | the freedom to start businesses and run them to make a profit. They can make or sell any product or service that is allowed by law |
consumer | a person who buys a product or service |
demand | the wants and need of the consumers |
supply | the goods and services offered by businesses |
scarcity | there is very little supply |
trade | the exchange of one thing for another |
barter | to trade goods and services for something other than money |
international trade | trade between countries |
communication link | kind of technology that lets people who are far apart share information instantly |
imports | bring in to sell, products and resources from other countries |
exports | sends to other countries to sell, many products and resources |
interdependence | the dependence on one another for products and resources |
latitude | lines run east and west around the globe |
longitude | also called meridians , run north and south from pole to pole |
chassis | the frame of a car |
alloy | a mixture of metals |
vanadium | a gray metal used to make steel |
homely | simple and plain |
catering | giving people what they want |
production efficiency | to make more products in less time |
conveyor belt | a belt that carries items from worker to worker |
What kind of resources did Henry Ford use? | he used metals, assembly line, conveyor belts |
What is a daguerreotype? | a picture |
What was the Silk Road? | It was an ancient trade route that linked countries in Europe, Asia and southeast Asia. European merchants and travelers carried ideas as well as goods to and from China |