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Economics Vocabulary

Economics Vocabulary Words

A team of specialized workers assembly line
To trade one item for another barter
a gain, advantage, or positive result benefit
a plan for using money budget
things make by people that help workers make goods or provide services capital resources
someone who buys goods consumer
any kind of money that people in a country use for trade currency
the amount of something consumers are willing to buy for a certain price demand
the way people make, buy, sell, and use things economy
a person who takes a risk, or chance, and starts a business entrepreneur
to send goods or services to another country for trade or sale export
the right people have to make choices to make, sell, or buy, whatever they want and can afford free enterprise
things people buy or sell goods
the skills, knowledge, and hard work that people bring to their jobs human resources
to buy good or services from sellers in other countries import
money people earn for work income
all of the people and companies that sell similar goods or services industry
depending on each other interdependent
the money a bank pays people for keeping their money there interest
where people buy and sell goods marketplace
things found in nature that are useful to people natural resources
resources that cannot be replaced nonrenewable resources
someone who makes and sells goods producer
resources that can be replaced renewable resources
a lack of goods or services scarcity
work that one person does for another person service
the amount producers will make for a certain price supply
to exchange things with someone else trade
Created by: allison.moody