Download Economic Vocabulary

Economic Vocabulary
Use the following links to complete the vocabulary chart below:
Economics Glossary
~ OR ~
Online Dictionary
(unless term is an underlined link to a specific site)
Definition
Term:
(in your own words):
Wealth in the form of money or
property.
capital
Give example –ORUse term in a complete sentence:
For example:
buildings, machines, utilities
wage
How much of a product producers
are willing to make and sell at a
specific price
supply
I could not believe the demand for
the Tickle-Me-Elmo Extreme.
demand
tourism
international
trade
When I finished my lemonade
stand, I had sold 25 cups at $1.00
each. This was enough profit to
cover my expenses – ice, sugar,
lemon, and cups.
profit
GDP –
Gross Domestic
Product
interdependence
Total market value of all goods and
services produced within the
borders of a country during a
period of time – usually a year.
People and/or businesses depending
on or helping each other – work as
partners or teams to get the job
done.
goods/services
The American Heritage® Dictionary of the English Language, Fourth Edition . Retrieved March 04,
2007, from Dictionary.com website: http://dictionary.reference.com/
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