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Chapter 4

Chapter 4 . Vocabulary . an international system for the buying and selling of goods and services. global marketplace . the voluntary exchange of goods and services. trade. a geographical area politically controlled by a distant country. colony. the buying and selling of goods. commerce .

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Chapter 4

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  1. Chapter 4 Vocabulary

  2. an international system for the buying and selling of goods and services global marketplace

  3. the voluntary exchange of goods and services trade

  4. a geographical area politically controlled by a distant country colony

  5. the buying and selling of goods commerce

  6. a trade policy that stated a country had to export more than it imported to be economically successful mercantilism

  7. a tax imposed on goods that are imported into a country tariff

  8. the manufacture of large quantities of similar goods mass production

  9. international trade free of government intervention free trade

  10. North American Free Trade Agreement; a treaty that eliminated tariffs on products traded among the UnitedStates, Canada, and Mexico NAFTA

  11. GDP; the total value of all final goods and services produced in a country or state in a given year Gross Domestic Product

  12. the ability to buy things now and pay for them over time credit

  13. money paid for the use of money interest

  14. a plan for receiving and spending money for a specific period of time budget

  15. money earned for working, providing services, selling goods or property, or from investments income

  16. amounts spent on wants and needs expenses

  17. an account against which the depositor can write checks to pay bills on demand checking account

  18. a holding place for money for the future savings account

  19. a bank certificate that draws interest and is written for a specific period of time certificate of deposit

  20. a special account whose interest fluctuates with the national interest rate money market account

  21. to buy an asset hoping that it will provide future profit or income invest

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