Social Studies
Vocabulary
Living in the United States
Earning and Learning
technology
putting scientific knowledge to practical use
interdependent
when regions depend on one another they are economically interdependent
globalization
the process of making parts of a product in different parts of the world
demand
the amount of an item consumers are willing to buy at different prices
supply
the amount of an item that sellers are willing offer at different prices
urban
a city is this type of area
barter
to trade one type of goods or services for another
consumer
a person who buys things
Constitution
the name of the document that is the plan for governing our nation
producer
a person who has goods to sell
rural
the countryside is this kind of area
opportunity cost
the item you give up when you choose one item over another
free enterprise system
businesses have the right to produce whatever they want