Commerce
Buying and selling of goods ; business
Consumer
Person who buys goods and services
Goods
Objects or materials that humans can purchase to satisfy their wants and needs
Services
Any activities performed for a fee
Currency
Paper or coin money that a country uses
Barter(system)
The exchange of goods and services for another (no currency used)
Textiles
Woven fabric
The law of supply and Demand
Supply how much of something is available
Demand: the amount of something consumers are willing or able to buy
Scarcity
A condition of limited resources and unlimited wants
Revenue
Money earned by selling goods and services
Profit
Money a company has leftover after subtracting the costs of doing business
Inflation
Overall increase in the price and goods and services across a country's economy
Recession
A decline in manufacturing employment and sales
Depression
A severe and
Agriculture
The production of crops or livestock
Competition
Rivalry between businesses selling similar goods or services often leads to lower prices
Imports
Goods or services that a country brings in or purchases from another country
Exports
Goods or services a country sells and sends to other countries
Tariff
A tax added to the price of imported goods