Economy Flashcard

Front

What is bartering?

Back

Trading goods and services without using money

Front

What does scarcity mean?

Back

When people have more wants than resources

Front

What are goods?

Back

Things that are grown or made to sell

Front

What are services?

Back

Work someone does for money

Front

Who is a consumer?

Back

A person who buys and uses goods or services

Front

Who is a producer?

Back

A person who provides goods or a service.

Front

What is currency?

Back

Money

Front

What does import mean?

Back

Something brought into the United States from another country to sell

Front

What does export mean?

Back

Something sent out of the United States to sell in another country

Front

What is supply?

Back

The amount of a resource that is available