| A | B |
|---|
| flow chart | A group of pictures showing the steps that must be followed to make or do something |
| price | The amount of money needed to buy a product or service |
| competition | What happens when companies produce and sell the same product |
| supply | The amount of a product or service there is to be sold |
| demand | The need or desire that people have for a product or a service |
| advertisement | Information that a producer provides about products and services |
| service | Something one person does for another |
| product | Something that people make or grow, often to sell |
| producer | A person who makes a product |
| raw materials | Resources needed to make a product |
| human resources | The people who work for a company |
| wage | The money a worker is paid |
| industry | All the companies that make the same product or provide the same service |
| trade-off | Giving up something you want in order to get something else |
| grid | a set of lines the same distance a part that cross one another to form boxes |
| international trade | Trade between people in different countries |
| import | To bring a product or resource into one country from another country |
| export | To send a product or resource from one country to be sold in another country |
| consumer | A person who buys a product or a service |
| marketing | Planning how to sell a product to consumers |
| technology | The use of machines, tools, and materials to make products faster and mor easily |
| basic needs | food, clothing, and shelter |
| rural | In the country, an area away from cities and towns |
| cutaway diagram | a diagram that shows both the inside and outside of an object at the same time |
