Economics- Unit 4 Background Learning Vocabulary Review

Taxes placed on imports

• trade

• demand

• export

• tariff

The business of buying and selling items is-

• trade

• services

• demand

• goods

When there is not enough of something to meet people's wants or needs-

• supply

• demand

• tariff

• scarcity

The amount of items or services that people are willing to buy is called-

• services

• tariff

• goods

• demand

money

• currency

• services

• goods

• industry

items that people make, use, or sell are-

• supply

• import

• goods

• currency

The amount of goods and services that are available-

• import

• export

• supply

• demand

Something from nature that can be used and is valuable to people-

• economics

• entrepreneur

• supply

• natural resource

To depend or rely on one another-

• economics

• interdependence

• trade

• export

The businesses that provide a particular good or service-

• economics

• industry

• currency

• scarcity