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9 Cards in this Set
- Front
- Back
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Export
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When a prouduct in one country is shipped to another country to be sold.
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Import
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When a prouduct 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 available.
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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 buyin and selling goods and services.
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Profit
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The excess of income over all costs,including the intres 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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Scarcity
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Not enough of something,shortage.
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