Exploring Colonies and Trade Concepts

Front

What is demand?

Back

The amount of a product that consumers want to buy.

Front

What is supply?

Back

The amount of a product that producers want to sell.

Front

What is a mission in the context of Spanish explorers?

Back

A religious settlement.

Front

What did Spanish explorers often seek in new lands?

Back

Gold and other riches.

Front

What is an example of a good?

Back

A book.

Front

What is trade?

Back

The act of buying, selling, or exchanging goods and services.

Front

What is a colony?

Back

A territory settled and ruled by people from another land.

Front

What is a producer?

Back

A person or company that makes goods or provides services.

Front

What is a consumer?

Back

A person who buys and uses goods and services.

Front

What is a market?

Back

A place where buyers and sellers come together to exchange goods.