A | B |
natural resources | people use resources found in nature |
non renewable | resources that cannot be replaced if used up |
renewable | resources that can be replaced or grown again |
coal, oil, and natural gas | fossil fuels that take millions of years to be made |
metals and minerals | examples of non renewable resources |
wind | renewable resource |
trees | renewable resource |
fish | renewable resource |
solar | energy from the sun |
nuclear | energy from an atomic reaction |
tariff | tax placed on imported goods by some countries |
export | a good "carried out" of a country to trade with another country |
import | a good "carried into" a country for purchase |
quota | an obstacle to trade because there is a limit on how many of a particular good can be brought into a country |
free trade | unlimited and non-restrictive trade |
developed country | a country that has high industrialization |
developing country | a country working toward increasing its industrialization |
NAFTA | North American Free Trade Alliance between Canada, USA, and Mexico |
EU | European Union Free Trade Alliance |
economy | the careful management of resources and the production and distribution of goods and services |
market | the type of economy used in the USA |
mixed | the most popular type of economy used in the world |
command | the type of economy that is controlled by the government |
port | this root word means "carry" |