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21 Cards in this Set
- Front
- Back
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Income |
Money earned from a job |
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Interdependence |
a relationship in which people depend on each other |
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opportunity cost |
When you give up something to something else |
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import |
a product brought in from another country |
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money |
a limited resource |
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Human Resource |
services and knowledge that workers provide |
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Specialization |
producing a few kinds of goods or services |
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Unlimited wants |
People often want to spend money on many different things. |
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High tech |
technology that is very advanced |
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donation |
money given to a group or charity |
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textiles |
woven cloth |
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budget |
a plan that shows how people earn and how they spend money |
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capital resources |
tools, machinery, buildings and other equipment that businesses use to make goods or provide services |
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unlimited wants and limited resources |
What forces people to make economic decisions |
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Firemen, policemen, teachers, roads |
Four government services paid for with tax dollars |
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Jobs |
North Carolina's industries help the state's economy |
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Furniture |
Big business in North Carolina |
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Granite, Lumber, Fish |
Three natural resources within NC |
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Tourism |
Industry that creates jobs and helps the economy enjoy our natural and man-made resources. |
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Peanuts, tobacco, Christmas trees, sweet potatoes, corn |
Crops grown in NC |
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Service Industries |
Provide a type of service to people rather than goods. |
