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Consumer have to make choices about what to buy because they don’t have
Enough money
People and countries are
Interdependent
Each country has its own form of
Currency
To make money out of a bank are
Withdrawl
Anything you buy that you can hold or touch
Goods
People get money by earning an
Income
The price of an item depends on the
Supply and the demand
Something use to produce goods and services are
Resource
Things like food, water, clothing, and shelter that you can survive without are
Needs
An activity you pay someone to do for you is
Services
The things that you give up is called
Opportunity cost
People save money for
Emergencies and to purchase expensive items
To trade without using money are
Barter
Sayings things aren’t necessary to survive are
Wants
Advertising is used to try to
Increase
people trade because of
Scarcity
When you save money in a bank you can
Earn interest
Making one kind of good or providing one kind of service are
Specialization
A person who makes a good or provide a service are
Producer
People cannot produce all of the kind of
Good and services they want
The best form of money are
Potable, divisible ,durable, and recognizable
When you borrow money from a bank you
Pay interest
To put money into a bank are
Deposit
A person who who buys a good or a service are
Consumer
People in the united state can have
Fruits and vegetables