Economic Vocabulary

Front

The rate at which a company or country produces goods

Back

Productivity

Front

Not enough resources to produce or purchase all the goods and services that people want or need

Back

Scarcity

Front

Done or given by your own free will or choice

Back

Voluntary

Front

Depending on one another to live or succeed

Back

Interdependent

Front

Relating to trade, industry, and money

Back

Economic

Front

Buying and selling goods and services

Back

Trade

Front

What you give up as a result of a decision you make

Back

Cost

Front

What you gain as a result of a decision you make

Back

Benefit