| A | B |
|---|
| technology | the development and use of scientific knowledge to solve practical problems |
| rural | in small towns or farms |
| urban | in the city |
| need | something that a person must have in order to live |
| want | something that a person would like to have but can live without |
| barter | trading one kind of good or service for another |
| producer | a person who makes goods or products to sell |
| consumer | a person who buys goods or services |
| economy | the way in which the resources of a country, state, region, or community are managed |
| free enterprise system | a system in which businesses have the right to produce any good or provide any service they want |
| profit | the money left over after costs are paid |
| supply | the amount of an item someone has to sell |
| demand | the amount of an item that consumers are willing to buy at different prices |
| opportunity cost | what is given up when one thing is chosen over another |
| transportation | the moving of goods, people, or animals from one place to another |
| interdependent | when regions rely on one another for goods, services, or resources |
| globalization | the process by which a business makes something or provides a service in different places around the world |
| communication | the way that epople send and receive information |
