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Holt Pt. 5 CC

Quiz yourself by thinking what should be in each of the black spaces below before clicking on it to display the answer.
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Term
Definition
Development   Economic Growth  
🗑
Developed Country   Country w/ strong economy  
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Developing Countries   Countries w/ less-productive economies  
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GDP   Total value of goods/services  
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Productivity   About of goods/services  
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Technology   Practical application of knowledge  
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Budget   Plan that shows income & expenses  
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Saving   Act of setting aside money  
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Interest   Price paid for borrowing money  
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Credit   Arrangement which a buyer can borrow money  
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Stock   Share ownership of a company  
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Investing   Act of using money  
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Bond   Certificate issued by company  
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Economics   Study of how people meet their wants & needs  
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Scarcity   having limited resources  
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Opportunity cost   cost of what you have to give up  
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Demand   desire for a certain good/service  
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Supply   amount of good/service  
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Producers   people/businesses that make/sell products  
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Consumers   people/businesses that buy/consume products  
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Incentive   encourages people to act in a certain way  
🗑
Market   organized way for producers and consumers to trade goods and services  
🗑


   

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Created by: Parker H.
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