Unit 5 Vocab Part 2

Front

Expert in one product, job, or service

Back

specialization

Front

Dependent on others for needs

Back

Interdependence

Front

Money a bank makes when you borrow from them.

Back

Interest

Front

Duties to complete your job

Back

Job responsibilities

Front

Goods available for purchase

Back

supply

Front

Knowledge, skills, and working conditions for a job

Back

Job characteristics

Front

Someone who works for themself

Back

Entrepreneur

Front

Production of less than enough to meet demand.

Back

underproduction

Front

Producers battling for maximum profit

Back

competition

Front

Something given up to make an economic decision; the item you cannot purchase.

Back

Opportunity cost