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Economic Vocabulary 1

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Good that one country buys from another country.Import
Money, tools, and machines a company uses to produce goods and services.Capital Resources
people who work to produce goods and services.Human Resources
Person who buys or uses goods and services.Consumer
Person who starts a new, hoping to make a profit.Entrepreneur
Economic system in which people are free to start their own businesses and own their own property.Free Enterprise
A company that has control of an entire industry.Monoply
Value of what must be given up in order to produce a certain good.Opportunity Cost
Good that one country sells to another country.Exports
Amount of a product that people are willing to buy.Demand
Resources found in nature.Natural Resources
Items that people make and use.Goods
Things that people do for others.Services
Total amount of things that a group of people can make.Productive Capacity
Amount of a product that is available.Supply
People who make goods.Producer


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