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Economy Vocab Ch 17

Chapter 17 TCI Social Studies Shaping America's Economy

TermDefinition
interest a small payment that is added for borrowed money
free market economy a type of economy where people decide what to buy and sell
demand the amount of a good or service that people will want at all prices
consumer someone who buys goods and services
tariff a tax on goods from other places
specialization a skill or knowledge in one job
supply how much of a good or service is available to buy at all prices
producer someone who makes goods or provides services
Created by: user-1674503
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