Social Studies Ch 4 CL 3&4

Someone who uses good and services.

Trade barriers make it easier for countries to trade and make more money.

New technology is often unavailable to poorer countries.

If the demand for a product is higher than the supply, the price will_____________.

Values are usually expensive objects.

The total amount of goods and services produced by a country each year.

Workers who transform raw materials into goods.

Machines used to create products and do jobs.

The person in charge of making sure all resources are functioning in a business.

An economy where business owners are free to make all decisions.

The money that remains after the costs of production have been paid.

The spread of ideas around the world.