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8 Cards in this Set
- Front
- Back
Export
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When a product produced in one country is then shipped to another country to be sold
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Import
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When a product is brought in from another country to be sold
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Interdependence
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When two or more things depend on each other
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Supply
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The amount of a product that is avalible
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Demand
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The need for a product or a service
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Trade
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The business of buying and selling goods and services
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Profit
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The excess of income over all costs,including the interest cost of the wealth invested
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Competition
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Rivalry among individuals in order to acquire more of something that is scarce
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