Interdependence Terms

2. Institutions – Organisations like banks that manage money, savings, and loans.
3. The ability to start and manage a business by taking risks and creating new ideas.
6. Extra money paid for borrowing money or earned from saving money.
7. Resources from nature used to make products, such as water, land, trees, and minerals.
10. Money paid for using land, buildings, or property owned by someone else.
11. flows The movement of money between households, businesses, and banks in the economy.
12. – Spending money to improve future income or production.
13. – People or families who earn money and spend it on goods and services.
14. Businesses that make goods or provide services to customers.
16. Payments made to someone for using their ideas, creations, or resources.
17. – Money borrowed that must be paid back, usually with interest.

1. When people and businesses depend on each other for resources, goods, and services.
4. The movement of goods, services, and resources through the economy.
5. – The resources needed to produce goods and services: land, labour, capital, and entrepreneurship.
8. Tools, machinery, buildings, and money used to produce goods and services.
9. – Activities or work done for others instead of selling physical products.
15. – The money a business has left after paying all its expenses.