Vocabulary A
to give money to a bank
What is deposit?
anything used to produce goods
When you go to the store and buy a bag of potato chips, you are:
What is a consumer?
How does advertising affect the demand for a product?
What is advertising makes the demand go up?
things made by nature that help people can use to create a product
What is a natural resource?
trading without using money
What is barter?
depending on others to produce things that you need
What is interdependence?
This is an example of what: "Tim gave his cookie to Rita. Rita gave Tim an apple in exchange."
What is bartering?
What happens when you borrow money from a bank?
What is you pay the bank interest?
the people needed to produce goods and provide services
What is human resources?
a country's system of money
the thing you give up when you buy something else
What it opportunity cost?
These, haircut, piano lessons, and car wash are examples of...
What is a service?
The United States gets bananas from Costa Rica.
What is import?
goods that are used to make other goods or to provide services
What is capital resources?
making one kind of good or service
What is specialization?
In July, a store is running low on sunscreen. What is the supply and demand for sunscreen?
What is high demand and low supply?
The United States sends oranges to Costa Rica.
What is export?
a person who buys a good or service
What is a consumer?
not having enough of something
What is scarcity?
In November, what will probably happen to the price of Halloween costumes?
What is the price will go down?
a person who makes a good or provides a service
What is a producer?