Economic Systems, World Trade, and Resources

The action of buying and selling goods and services.

A natural resource that cannot be used up or that can be replaced.

The United States is an example of a(n)______Economic System.

Value of all goods and services in a country divided by the country population.

System used to determine goods & services produced,how to produce them, & who will receive them

The system/process a country uses to manage its money & resources to produce, buy or sell goods

Represents how much the market can offer.

Per capita GDP (Gross Domestic Product) refers to

Fossil Fuels are:

Send (goods or services) to another country for sale.

Change from manual labor to machine labor; increases the dev. level of many countries is called

Which of the following is a renewable resource?

Which of the following is an example of a renewable resource?

Which of the following are examples of nonrenewable resources?

Why do people need natural resources?

Life expectancy is the

Bring (goods or services) into a country from abroad to sale.

In which economic system do supply and demand guide choices?

Most natural resource are:

Something that someone can consume. Examples: food, books, video games, clothes

What can be used to measure the success of an economy?

Something that someone does for you.

Natural Resources that are finite or limited in supply.

Literacy rate tells the percent of the population that can:

Refers to how much (quantity) of a product or service is desired by buyers.

People who use goods and services.

Countries can  ____, or buy from other countries the resources they do not have or can't make.