Shared Flashcard Set

Details

economics
voc
28
History
7th Grade
04/14/2011

Additional History Flashcards

 


 

Cards

Term
goods
Definition
things people buy or sell
Term
subsistence farmikng,-
Definition
farming with no or little profit
Term
services
Definition
non material equivalent of a good in marketing like grass cutting
Term
demand
Definition
how many people want a thing
Term
supply
Definition
how much of a thing is available
Term
wealth
Definition
a great quantity of money
Term
scarcity
Definition
shortness of supply
Term
opportunity cost
Definition
the difference between what you save and what you spend
Term
scarcity
Definition
short supply
Term
interest
Definition
banks give you extra money for allowing them to use your money
Term
natural resouraces
Definition
resouraces found in nature-from scratch like gold
Term
renewable resource
Definition
resource you can reuse
Term
recyclable resource
Definition
resource you can make into another resource with the same materials
Term
primary good
Definition
the raw material
Term
primary good
Definition
the raw material
Term
secondary good
Definition
making the raw material into a finished profit
Term
teriary good
Definition
taking the final product to the consumre
Term
final good
Definition
the finished product
Term
work force
Definition
total number of people who can be employed
Term
imports
Definition
materials/goods a country gets from another country
Term
exports
Definition
selling goods/materials to another country
Term
developed nation
Definition
Term
developed nation
Definition
Term
developing nation
Definition
Term
underdeveloped nation
Definition
Term
underdeveloped nation
Definition
Term
assets
Definition
Term
capital
Definition
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