Key terminology

2. Payment of money that is transferred to another party.
5. The action or process of working together to the same end.
6. A sum of money that is owed or due.
8. The growing interdependence of the world’s economies, cultures, and populations, brought about by cross-border trade in goods and services, technology, and flows of investment, people, and information.
10. A period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.
12. Not having enough money to meet basic needs including food, clothing and shelter.
13. The action of helping or doing work for someone.
16. An economic and political system in which a country's trade and industry are controlled by private owners for profit, rather than by the state.
18. A person, company, or country that makes, grows, or supplies goods or commodities for sale.
19. A tax or duty to be paid on a particular class of imports or exports.
20. A fixed share of something that a person or group is entitled to receive or is bound to contribute.

1. The process of concentrating on and becoming expert in a particular subject or skill.
3. An expert in economics.
4. A raw material or primary agricultural product that can be bought and sold, such as copper or coffee.
7. The action of diversifying something or the fact of becoming more diverse.
9. Belief in the benefits of profitable trading.
11. Send (goods or services) to another country for sale.
14. The state of being scarce or in short supply; shortage.
15. The theory or practice of shielding a country's domestic industries from foreign competition by taxing imports.
17. Advantage; benefit.