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vocabulary - social studies- chapter 12

  1. To trade without using money
    barter
  2. A place where coins are made
    mint
  3. The amount of money left over after all the costs of running a business have been paid
    profit
  4. The freedom to make and sell any product or service.
    free market
  5. The contest among businesses to sell the most goods or services
    competition
  6. A willingness of consumers to buy goods and services.
    demand
  7. The products and services that businesses provide consumers
    supply
  8. What happens when the supply of a product is not enough to meet the demand for it
    scarcity
  9. The money that people save
    savings
  10. To put money into a bank account
    deposit
  11. The money a bank pays people for keeping their money there
    interest
  12. To buy something that (you expect) will grow in value
    invest
  13. A plan for spending and saving money
    budget
  14. The giving up of one thing in return for something else
    trade-off
  15. What someone gives up to get what he or she wants
    opportunity cost
  16. A group of workers who own a business together.
    cooperative
Author
fssdpgsk-4
ID
81050
Card Set
vocabulary - social studies- chapter 12
Description
vocabulary
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