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Definitions
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Miscellaneous
100
something used to produce goods and services
What is resource
100
to put money into a bank
What is deposit
100
to take money out of a bank
What is withdrawal
100
not having enough of something
What is scarcity
100
This person is on the United States $1 bill
Who is George Washington
200
to trade without using money
What is barter
200
things like food, water, clothing, and shelter that you can't survive without
What are needs
200
making one kind of good, or providing one kind of service
What is specialization
200
A country's system of money
What is currency
200
If the supply goes down, the price goes.....
What is up
300
anything you buy that you can hold or touch
What is a good
300
things we like to have, but aren't necessary to survive.
What are wants
300
depending on others to produce things you need
What is interdependence
300
an activity you pay someone to do for you
What is a service
300
If the supply goes up, the price goes.....
What is down
400
You use this to try and increase the demand for something
What is advertising
400
exchanging one good or service for something else
What is trade
400
sending goods or services to countries
What is export
400
the thing that you give up when you buy something
What is Opportunity Cost
400
If the demand goes up, the price goes....
What is up
500
You trade your time and effort for money
What is income
500
goods that are used to make other goods or to provide services...tools, buildings, and machines are examples of these
What are capital resources?
500
Bringing in goods or services from other countries
What is imports
500
the strength or reliability of an object; able to handle a lot
What is durable
500
If the demand goes down, the price goes....
What is down.