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Chapter 3 Social Studies Vocabulary

AB
a person who buys thingsconsumer
the countryside is this kind of arearural
businesses have the right to produce whatever they want is this systemfree enterprise system
the process of making parts of a product in different parts of the worldglobalization
the area of a cityurban
to trade one kind of goods or service for anotherbarter
when regions depend on one another they are economically ___interdependent
the amount of an item that consumers are willing to buy in at different prices is calleddemand
putting scientific knowledge to practical use.technology
the amount of an item that sellers are willing to offer at different pricessupply
a person who makes goods to sellproducer
when you choose one thing over another, what you give up is calledopportunity cost


Teacher
Elverado Intermediate School
Vergennes, IL

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