A fundamental part of economics is the laws of ____ and ____. They directly impact the price of a good or service.
What are supply and demand?
An organized way for producers and consumers to trade goods and services.
What is a market?
The hope of making a future profit by using money wisely today.
What is investment?
When countries impose tariffs and quotas on imports from outside their borders, these are called _____.
What are trade barriers?
These are a series of satellites orbiting Earth. They work together to send signals to certain points on Earth's surface.
What are Geographic Positioning Systems? (GPS)
The affect that an activity has on someone/something that has nothing to do with the activity.
What is spillover?
1.
2.
What are...
1. Market Economy
2. Command Economy