| A | B |
|---|
| technology | development and use of scientific knowledge to solve practical problems |
| urban | in the city |
| rural | in small towns or farms |
| need | something that a person must have to live |
| want | something that a person would like to have but can live without |
| barter | trade one kind of goods or service for another |
| producer | people who make goods or products to sell |
| consumer | person who buys goods or services |
| economy | resources of a country, state, region, or community and how they are managed |
| free enterprise system | businesses have the rights to produce any goods and provide any services that they want |
| profit | money left over after all the costs are paid |
| supply | the amount of an item that someone has to sell |
| demand | the amount of an item that consumers are willing to buy at different prices |
| opportunity cost | what you give up when you choose one thing over another |
| transportarion | moving of good, people, or animals from one place to another |
| interdependent | when regions rely on one another for goods, services, or resources |
| globalization | goods are produces using resources, raw materials, and services from several countries |
| communication | way people send and receive information |
