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Social Studies
Social Studies Test
Question | Answer |
---|---|
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 |