Economics Key Terms

Front

More of something than is needed

Back

Surplus

Front

To give out in shares, to scatter or spread

Back

Distribute

Front

The type of arrangement in which each worker specializes in a particular task or job

Back

Division of labor

Front

Materials found in the Earth that people need and value

Back

Resources

Front

Exchange goods without involving money

Back

Barter

Front

Goods sold to other countries

Back

Exports

Front

An economic system in which government makes all the economic decisions

Back

Command Economy

Front

The branch of science concerned with design and building

Back

Engineering

Front

Goods brought in from other regions

Back

Import

Front

Paths followed by traders: Silk Road, Trade Routes, Resources, Agrarianism

Back

Trade Routes