| A | B |
|---|
| scarcity | having limited resources |
| producers | a person who makes a good or service |
| profit | money made; revenue minus costs |
| import | to bring goods into another place |
| price | how much is charged for a good or service |
| consumer | a person who uses/buys a good or service |
| export | to send goods out to another place |
| services | work performed by others |
| demand | desire and ability to purchase something |
| supply | amount of a good that is available for purchase |
| opportunity cost | what you give up when you make a choice |
| goods | actual products you can see or touch |
| income | money you earn |
| specialization | to train in one specific area |
| trade | the exchange of one good or service for another |
| human resources | workers |
| interdependence | people depend on each other |
| natural resources | resources obtained from nature |
| barter | to trade without exchanging money |
| capital resources | money, buildings, supplies |
