| To Market To Market | Here, There, Everywhere | I'm In the Money! | Risky Business | Economic Resources |
|---|---|---|---|---|
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What is a consumer
Someone who buys or uses something
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What is Import
To BRING IN goods from other countries to sell
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What is money
A means of exchange
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What is an entrepreneur
A person who starts a business of their own
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What is Natural Resources?
Something from nature that people can use
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What is a producer
Someone who makes or grows something
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What is export
To SHIP OUT goods to other countries to sell
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What is a bank
An institution that holds your money and lends it to others
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What is supply
How much of a product that is available
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What is human resources
The workers that produce goods or services
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What is mass production
Many goods that are alike that can be made quickly and cheaply using machines
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What is interstate trade
Buying and selling between states
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What is income
The money you earn from a job
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What is demand
How much people are wanting/needing something
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What is capital resources
The tools or buildings that businesses use
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What is Free Market Economy
An economy in which people can freely buy and trade goods and services
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What is international trade
Buying and selling between countries
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What is save
To put aside money for later
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What is scarcity
When a supply of a good or service is not enough to meet the demand
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What is renewable resource
A resource that can be made again by people or nature
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What is opportunity cost
When you give up something to have something else. It's the next best choice
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What is economic interdependence
The way in which people depend on one another for goods and services
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What is invest
To put money into a business in hopes that it will grow and yield a profit
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What is Profit
The amount of money you make after all expenses are paid
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What is nonrenewable resource
A resource that cannot be made again quickly by nature or people
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