Econ Vocab

when a country imports more than it exports

• trade deficit
• trade surplus
• urban sprawl
• tariff

when a country exports more than it imports

• trade deficit
• trade surplus
• urban sprawl
• tariff

the spread of human settlement into natural areas

• trade deficit
• trade surplus
• urban sprawl
• tariff

a tax placed on goods that are imported

• trade deficit
• trade surplus
• urban sprawl
• tariff

part ownership in a company or business; also called shares

• stock
• biotechnology
• free market
• profits

the study of cells to find ways of improving health

• human capital
• biotechnology
• urban sprawl
• profits

people are free to buy, sell, and produce whatever they want

• stock
• biotechnology
• free market
• profits

the money that remains after a business has paid all of its expenses.

• stock
• biotechnology
• free market
• profits

all the skills, knowledge, and talents that a person or group of people possess

• human capital
• biotechnology
• free market
• profits

3 types of Economic Systems

• Customs, Command, Communisim
• Traditional, Command, Market
• Democracy, Autocracy, Oligarchy
• Command, Tradtional, Parents