Economics Basics Flashcard

Front

The company decides on the ____________________, or how much of something to make.

Back

supply

Front

People who make things are called ____________________.

Back

producers

Front

________________ is the act of sending goods from the United States to a foreign country.

Back

export

Front

Books, games, radios, DVD, X-boxes are all products or ________________.

Back

goods

Front

Teachers, nurses, and police all provide a ____________________.

Back

service

Front

________________ is the amount of a product people want to buy.

Back

demand

Front

People who buy things are called ________________.

Back

consumers

Front

______________ is the act of receiving goods from a foreign country into the United States.

Back

import

Front

Food, water, and shelter are all ________________.

Back

needs

Front

Africa buys raw cotton from the United States. Is this an import or an export?

Back

Import