WorksheetsEconomic and Globalization Vocab
Total questions: 31
Worksheet time: 22mins
Globalization
To bring (goods or services) into a country from another country for sale.
The way countries and people of the world interact and integrate economically, politically and socially and can have both benefits and costs for a nation.
People, businesses, and nations depend on the goods and services of others
Wants are unlimited. Resources are limited.
Tariff
A tax or charge to be paid on a particular good or service being brought in or sold out of a country.
The costs or sacrifices that are given for making certain business or political decisions.
Goods and services are produced in better quality and at faster speeds when people focus on producing a few things.
A benefit gained from making certain business or political decisions usually described in the increase of money.
Economic benefit
The costs or sacrifices that are given for making certain business or political decisions.
A benefit gained from making certain business or political decisions usually described in the increase of money.
Goods and services are produced in better quality and at faster speeds when people focus on producing a few things.
A tax or charge to be paid on a particular good or service being brought in or sold out of a country.
Economic cost
A tax or charge to be paid on a particular good or service being brought in or sold out of a country.
A benefit gained from making certain business or political decisions usually described in the increase of money.
The costs or sacrifices that are given for making certain business or political decisions.
The people who pay money to consume goods and services produced.
Import
To bring (goods or services) into a country from another country for sale.
To send (goods or services) to another country for sale.
A benefit gained from making certain business or political decisions usually described in the increase of money.
The costs or sacrifices that are given for making certain business or political decisions.
Export
To bring (goods or services) into a country from another country for sale.
To send (goods or services) to another country for sale.
The costs or sacrifices that are given for making certain business or political decisions.
A benefit gained from making certain business or political decisions usually described in the increase of money.
Interdependence
The way countries and people of the world interact and integrate economically, politically and socially and can have both benefits and costs for a nation.
The people that make the goods and provide the services that are sold in the economy.
Goods and services are produced in better quality and at faster speeds when people focus on producing a few things.
People, businesses, and nations depend on the goods and services of others.
Specialization
Goods and services are produced in better quality and at faster speeds when people focus on producing a few things.
People, businesses, and nations depend on the goods and services of others.
Wants are unlimited. Resources are limited.
A tax or charge to be paid on a particular good or service being brought in or sold out of a country.
Scarcity
The costs or sacrifices that are given for making certain business or political decisions.
A tax or charge to be paid on a particular good or service being brought in or sold out of a country.
The people who pay money to consume goods and services produced.
Wants are unlimited. Resources are limited.
Producers
The people that make the goods and provide the services that are sold in the economy.
The people who pay money to consume goods and services produced.
The amount of resources, goods, or services sellers are willing to sell at possible prices.
How much people want of a good or service at a certain price at a certain time.
Consumers
The people that make the goods and provide the services that are sold in the economy.
The people who pay money to consume goods and services produced.
The amount of resources, goods, or services sellers are willing to sell at possible prices.
How much people want of a good or service at a certain price at a certain time.
Supply
The amount of resources, goods, or services sellers are willing to sell at possible prices.
How much people want of a good or service at a certain price at a certain time.
The people who pay money to consume goods and services produced.
Wants are unlimited. Resources are limited.
Demand
The amount of resources, goods, or services sellers are willing to sell at possible prices.
How much people want of a good or service at a certain price at a certain time.
The people who pay money to consume goods and services produced.
A tax or charge to be paid on a particular good or service being brought in or sold out of a country.
Mexico, Colombia, and Peru are make coffee beans. They are called __________.
Starbucks
The Bean Belt
Consumers
Producers
Starbucks relies on places around the world to get the products they need to sell coffee. This is an example of what?
Scarcity
Interdependence
Economic cost
Tariffs
The Netherlands, Finland, and Sweden drink a lot of coffee! But they don't make it. They are called...
Producers
Consumers
Globalization
Caffeine addicts
Different countries around the world produce specific products for Starbucks to use based on what they can best produce. What is this an example of?
Interdependence
Demand
Specialization
Economic cost
A Starbucks in Gaithersburg depending on other countries to produce their coffee beans is an example of what?
Imports
Economic benefit
Interdependence
Scarcity
Globalization is the way (a) and people of the world interact and integrate economically, politically and socially and can have both benefits and costs for a nation.
A tariff is a (a) or charge to be paid on a particular good or service being brought in or sold out of a country.
An economic benefit is a benefit gained from making certain business or political decisions usually described in the (a) of money.
Economic costs are the costs or (a) that are given for making certain business or political decisions.
Import is to bring (goods or services) (a) a country from another country for sale.
Export is to send (goods or services) (a) of the country to another country for sale.
Interdependence is when people, businesses, and nations (a) on the goods and services of others
Specialization is when goods and services are produced in better quality and at faster speeds when people focus on producing a (a) things
Scarcity means wants are un_______. Resources are ________.
(a)
Producers are the people that (a) the goods and provide the services that are sold in the economy.
Consumers are the people who (a) money to consume goods and services produced.
Supply is the amount of resources, goods, or services sellers are willing to (a) at possible prices.
Demand is how much people (a) of a good or service at a certain price at a certain time.
