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10 Cards in this Set

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