Unit 4 Vocab: WH2

What is an ECONOMY?

• goods and services ONLY

• good and services made, sold, and used.

What is a MERCHANT?

• A person who buys and sells goods.

• A person who sells ONLY.

• A person who BUYS only.

An example of navigation is....

• Hopping in your car and turning on the GPS to go to New Jersey for the weekend.

• process of locating ships in the dark

• Watching videos on how to plot a course on a boat.

Colony.....#4

• group of cats that decide to live under your porch

• group of people from one country who build a settlement in another territory, land, claiming new land for the MOTHER country.

INDIGENOUS....#5

• new people

• old people

• original people

RESOURCE....#6

• natural resources from an area like trees and coal or $$$ or human labor supply

• a pile of papers used in art class

Trade is....#7

• exchange of goods ONLY

• exchange of goods and services ONLY

• exchange of services ONLY

EXPORT ....... (#8)

• leaving and coming into a country

• coming into a country

• leaving a country

IMPORT....(#9)

• Going out

• Coming in

Migration...(#10)

• Moving people from one apartment to a condo.

• moving people from one place to another