Chapter 10 Vocab
Someone who makes and sells goods.
What is a producer?
Things made by people that help workers make goods and provide services.
What is capital resources?
To sell goods or services to people in another country.
What is export?
The right to make free choices to make and sell the products they want and for consumers to buy what they want.
What is free enterprise?
Sun, soil, and water are _________________ resources.
What is natural?
Someone who buys goods and services.
What is a consumer?
A team of specialized workers.
What is an assembly line?
All of the different people and companies that sell similar goods and services.
What is an industry?
What is high?
Machines, roads, tools, and buildings are all examples of ____________________ resources.
What are Capital Resources?
The amount producers will make for a certain price.
What is supply?
A building where workers make goods.
What is a factory?
Our most important trading partner.
What is China?
At high prices, ___________________ buy less. At low prices, they buy more.
What are consumers?
An assembly line can produce goods quickly and at a low ______________.
What is cost?
The amount consumers are willing to buy for a certain price.
What is demand?
A place where goods may be bought or sold.
What is a market?
People in different countries often trade with each other to buy and sell goods at a lower ____________.
What is cost or price?
Many producers ___________________ which means they do one special kind of work.
What is specialize?
The driver of a tractor or machine is an example of ________________ resources.
What are human?
Skills, knowledge, and hard work that people bring to their jobs.
What is human resources?
To buy goods or services from sellers in other countries.
What is import?
Oil, toys, sporting goods, and shoes.
What are imports?
A banker, fire fighter, and farmer are all __________________.
What are producers?
To make blue jeans, after the cotton is harvested, they send it to a ___________________.
What is a factory?