SS10-2 Unit 3 Vocab

4. moral principles/values that guide peoples' decision making
7. the increasing interdependence of world economies (mostly due to the increase of cross-border trade)
9. when countries are able to exchange goods with very few restrictions or rules
10. an external motivator that will influence the choice(s) a person will make
12. the value of what you have to give up to do/get something else
14. a special tax placed on goods that are being imported or exported
16. the production, distribution, and use of income, wealth, and commodities
17. development(s) that meet the needs of the present without compromising the ability of future generations to meet their own needs
18. when restrictions are removed or lessened for the free trade of goods between countries
19. when government owned industries and services are sold to private businesses / individuals
20. products that are traded between companies in developed and developing countries. Producers in developing countries are paid fair wages

1. when one company hires another company to do certain tasks in production
2. the process of people around the world becoming more interconnected and dependent on one another
3. goods that are brought INTO a country from another country with the intention of being sold
5. a company that is created and run by a country or government (owned by the CROWN)
6. goods that are sent OUT of a country to be sold in other countries
8. the process of removing or reducing rules / regulations in the economy for industries or people
11. areas of the sea around a country's shoreline that said country has the exclusive right to extract natural resources from
13. the responsible management and use of land and resources so that future generations will be able to enjoy healthy environments full of resources
15. when the demand for a good/service is higher than its avaiability, there is _________