Total value of goods and services produced in a country in a year

the state of being in short supply

The percentage of a country's population over the age of 15 that can read or write

A person who comes up with a product or service, or a better way to produce one.

An economic system that relies on the government to make all economic decisions

Focusing on a narrow range of products/services that can be produced most efficiently and cost-effectively.

People who perform labor. Invest in it with education and job training.

A production of the Earth (gift of nature) that people use to meet their needs.

A complete ban on trade.

A free trade agreement among the USA, Canada, and Mexico

an economic system that is driven by consumer's buying decisions.

A limit on the amount of items that can be imported into a country.

An economic system with limited government involvement and driven by consumer's buying decisions

Producing only what is necessary for personal use/survival

The measure of the quality of life in a country

Converting one nation's money into an equivalent value/quantity of another's.

A tax on imports or exports.

The factories, machinery, technology, etc. that are necessary to sustain a service or industry.

A system of exchange whereby one good/service is given in return for another; does not require monetary exchange.