| A | B |
|---|
| consumer | a person who buys a product or service |
| 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 that is to be sold |
| demand | the need or desire that people have for a product or service |
| advertisement | information that a producer provides about products and services |
| trade-off | giving up something you want in order to get something else |
| opportunity cost | what you have to give up in order to have something else |
| grid | a set of lines the same distance apart that cross one another to form boxes |
| international trade | trade between people in different countries |
| communication links | machines that people who are far apart can use to communicate with one another |
| 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 |
| cutaway diagram | a drawing that shows both the inside and outside of an object at the same time |
