
Basic Economic Terms

Flashcard
•
Other
•
1st - 3rd Grade
•
Hard
Judy Swift
FREE Resource
Student preview

12 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Scarcity
Back
when there is not a lot of something
2.
FLASHCARD QUESTION
Front
Produce
Back
to make a good or perform a service
3.
FLASHCARD QUESTION
Front
Trade
Back
The exchange of goods and services
4.
FLASHCARD QUESTION
Front
Needs
Back
things you must have to live
5.
FLASHCARD QUESTION
Front
Export
Back
to sell goods and services to another country
6.
FLASHCARD QUESTION
Front
Wants
Back
things you would like to have, but don't need to have
7.
FLASHCARD QUESTION
Front
Import
Back
to buy goods and services from another country
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