Economics Basics

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Barter

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Trading goods and services without using money.

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Trade

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The exchange of goods or services.

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Resource

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Something found in nature and used by people (water, minerals, etc.).

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Economy

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The system of how money, goods, and services are produced and used.

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Import

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To bring goods into a country.

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Export

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To send goods to another country for sale.

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Supply and Demand

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Economic model of how prices are set in a market.

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Currency

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The system of money.