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SS 4: 3,4,5
Economics Part 2
Term | Definition |
---|---|
human resource | people |
capital resources | the tools and machines people use to produce goods. |
demand | the number of people who want certain good or services |
supply | the amount of goods or services that are available |
scarcity | shortage of certain goods or services |
line graph | a graph that shows information that changes over time |
factory | a place where goods are manufactured |
specialize | to make one thing very well |
import | to bring in goods made or grown outside the country |
export | to send goods out of the country to be sold somewhere else |
international trade | trade between different countries |
domestic trade | trade that takes place within the borders of a country |
cooperate | to work together |