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5th Grade History Ch. 14

Harcourt

AB
hijackto illigally take control of a vehicle
free enterpriseAn economic system in which people are able to start and run their own businesses
human resourcesworkers who bring their own ideas and skills to a job
capital goodsbuildings machines technology and tools needed to produce goods and services
scarcitywhen people want more than their resources can provide
market economyan economic system in which producers buy resources for a certain price
command economyan economic system in which the government owns all the resources and controls businesses
competitionthe contest among companies to get the most customers or sell the most goods
productivitya measure of how many resources are needed to produce goods and services
specializationbecoming skilled at one kind of job
interdependentdepending on other states and regions for natural resources goods and services
service industryan industry that provides services to other people
high-techbased on computers and other kinds of electronic equipment
globalizationthe growth of a global economy
urban sprawldeveloping land for cities or housing


6th grade teacher
St. John's Lutheran
Corcoran, MN

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