All terms in this list:
Assembly Line: a line of workers along which a product moves as it is put together, one step at a time
Bartering: the trading of one kind of good for another without using money
Budget: a plan for spending and saving money
Captial Resource: the money, tools, buildings, and machines needed to run a business
Competition: in business, the contest among companies to get the most customers or sell the most products
Economy: the way people in a state, region, or a country use resources to meet their needs
Export: goods shipped from one country to another to be sold
Free enterprise: a kind of economy where people own and run their own business
Import: a good brought into one country from another to be sold
Interdependence: depending on one another for resources and products
Mass Production: a way of manufacturing in which many goods that are alike can be made quickly and cheaply
Raw Material: a resource in its natural state that can be used to manufacture a product
Self-sufficient: being able to do almost anything for yourself
Service: an activity that someone does for others for pay
Supply: a good or service that business offers for sale
Tax: money that a government collects from its citizens to pay for services
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