Vocabulary
Someone who makes and sells goods/services.
What is a producer?
Someone who buys goods/services made by a producer.
What is a consumer.
a building where workers make goods.
What is a factory?
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A place where goods may be bought or sold.
What is a market?
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A resource found in nature.
What are natural resources?
What the U.S. imports from Ecuador.
What are bananas?
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The amount consumers are willing to buy for a certain price.
What is demand?
Things made by people that help workers.
What are capital resources?
To buy goods or services from sellers in other countries.
What is import?
Having more choices of a product is good because it allows consumers to get ________________.
Exactly what they want.
The amount of a product or service producers will make for a certain price.
What is supply?
Skills, knowledge, and hard work people bring to their job.
What are human resources?
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What China exports to the U.S.
What are toys?
Doing this with other countries allows consumers to have more choices on what to buy.
What is trading?
All of the people and companies that sell similar goods or services.
What is industry?
A team of specialized workers.
What is an assembly line?
Gives you freedom to buy and sell what you want.
What is free enterprise?
To sell goods or services to people in other countries
What is Export?
Countries that trade with each other.
What are trading countries?