Week 11 Alabama History

Front

What should you do when facing a purchasing decision?

Back

Seek advice.

Front

What is a reason for bartering?

Back

For a need.

Front

What is trade?

Back

It is when you buy, sell, or exchange a good or service for something else you want or need.

Front

What is opportunity cost?

Back

The products a person gives up when having to make a choice.

Front

What is the government's main economic role?

Back

To use money and funds to provide services to citizens.

Front

What is interdependence?

Back

A situation where people rely on each other for goods and services.

Front

What does supply mean?

Back

The amount of a good or service that is available for purchase.

Front

What does demand mean?

Back

The desire of consumers to purchase goods and services.

Front

What is scarcity?

Back

The limited availability of resources to meet unlimited wants.

Front

What is an import?

Back

A good or service brought into a country from abroad.