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10 Cards in this Set
- Front
- Back
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World of international trade
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the movement of goods and services between countries
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Exports
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goods and services made/produced in ONE country, then sent to buyers in another country
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Imports
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goods and services made/produced in ANOTHER country, then brought into this country and bought by people here
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Interdependence
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countries (regions) depend on each other to provide the things that people need or want
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Producers
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people or companies that make goods or provide services - SELLERS
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Consumers
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buyers that spend money to get the things they want or need
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Production
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the way that goods or services are made - makes use of the three resources
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Market
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the place where people buy and sell goods and services
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Profit
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more INCOME ( money coming in) than EXPENSES (money going out)
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Loss
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more EXPENSES than INCOME
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