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Economics
| Question | Answer |
|---|---|
| budget | a plan for using money |
| currency | a country's system of money |
| natural resources | materials found in nature that are useful or necessary to life |
| trade | the system of exporting and importing goods and resources |
| capital resources | goods produced and used to make other goods |
| entrepreneur | a person who starts his or her own business |
| profit | money a person makes after paying for resources |
| human resources | the people who work for a business |
| scarcity | when you lack enough resources to make the product that the customer desires |
| expense | something people spend money on, such as something they do or buy |
| interdependence | producers and consumers depend on one another |
| savings | money that a person keeps in a bank |
| opportunity cost | the value of an item you give up when you choose one item instead of another |
| economy | the way a country chooses to use its money, goods, and services |
| income | the amount of money someone receives for working |
| barter | to trade what you have for what you need or want |
Created by:
elise_kramer
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