Vocab Definition (group gives definition)
What does Import mean?
To bring in goods and services
What does Produce mean?
To make or grow something.
To send out goods or services
Export
To give and get goods or services
Trade
What does Export mean?
To send out goods and services.
What does Consume mean?
To buy, use, or eat.
To bring in goods or services
Import
To make or grow something
Produce
What does Trade mean?
To give and to get goods and services.
What does Product mean?
Something made out of raw materials to be sold.
Natural resources used to make goods or products to sell
Raw materials
To buy, use or eat
Consume
What does Specialization mean?
To become really good at something.
What does Raw Material mean?
Natural resources that can be used to make goods or products
To rely on one other for things that are needed. We rely on other countries and they rely on us.
Interdependence
Something made out of raw materials to be sold
Product
What does Interdependence mean?
To rely/depend on each other for things we need and want. We need things from others, they need things from us.
To become really good at something
Specialization