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Unit 7 part 1

unit 7 part 1

QuestionAnswer
Barter Exchange goods without involving money.
Benefit To gain or receive good results from something
Command economy An economic system in which the government makes all economic decisions.
Commodities a raw material or primary agricultural product that can be bought and sold, such as copper or coffee.
Development improvement in human well-being through economic advancement
Distribute to divide among a group of people
Economics studies the production, distribution, and consumption of goods and services.
Export send (goods or services) to another country for sale.
Import to bring a product into a country to be sold
Inflation A continuous rise in the price of goods and services
Innovation something new, a change; the act of introducing a new method, idea, device, etc.
Maritime trade The exchange of goods using sea routes
Created by: kabersch
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