Definitions
This word means the government has little control over the economy.
What is a free market?
These types of businesses are allowed in the United States.
What is all businesses?
This is the money that a business has after it pays all of its bills.
What is a profit?
This was the main form of economy in the past?
What was agriculture or farming?
This happens when people buy and sell products made in other countries.
What is they become apart of the global economy?
This word means the complete buying, selling, and producing that people do.
What is an economy?
These are the limits that the government does set on businesses.
What are businesses are not allowed to sell dangerous products, must have a safe workplace, and limit pollution.
This helps you decide how much you can charge for a product.
What is supply and demand?
These are the main forms of economy today.
What are manufacturing and the service industry?
Define global economy
What is when countries around the world depend on each other for goods and services.
This word is the goal of most businesses.
What is a profit?
This term tells who owns or manages the resources that businesses use.
What are people?
This term describes if you only have a little bit of honey to sell.
What is a weak supply?
This means making products.
What is manufacturing
These people are apart of the global economy
What are workers?
This word means the amount of product or service that is available.
What is supply?
This means the three kinds of resources used in the economy.
What are factors of production?
This term describes if you many people want to buy your honey
What is a strong demand?
This is a business where people are paid to do things for other people.
What is the service industry?
This is how you can go to different places in the world to buy services.
What is travel?
This word means the amount of product that people are willing to pay for.
What is demand?
These are the resources that make up the factors of production?
What are natural resources, capital resources, and human resources?
These terms describe if many farmers are selling honey and few people want to buy it.
What are strong supply and weak demand?
These are items that are mostly produced in the United States?
What are cars and steel.
This term offers more choices to American buyers.
What are products and services?