vocab
The amount of money you need to buy something.
Costs.
This is a medium of exchange. (we use it to trade)
Money
Money is able to be separated into parts.
Divisible
This is Ms. Blatz's favorite singer.
T-swift
A place to buy and sell things.
The exchange of goods and services between two or more parties without the use of money.
Barter System
Money is able to be carried.
Portable
What specific type of economy does the USA have?
Capitalist / market
How much a person gets paid for doing a job.
Wages
A product that everyone wants like diamonds.
Commodity
Money is strong and unable to break, long lasting.
Durable
This is the type of money Japan uses
Yen
The action of buying and selling items.
Trade
This is the problem that happens in bartering where you have to find someone who wants what you have and someone who has what you want.
Double coincidence of wants.
Everyone knows what it is.
Recognizable.
Something in short supply, shortage
Scarcity
The study of how society uses its limited resources.
Economics.
Money is in short supply / there is not an unlimited amount.
Scarcity
This is the type of money Russia uses.
Ruble