PAPER FULL SOLUTIONS GRADED A+
◉ deflation. Answer: A decrease in the general level of prices.
◉ embargo. Answer: A government order preventing trade with
another country
◉ interstate commerce. Answer: 1886, established the ICC
(Interstate Commerce Commission) - monitors the business
operation of carriers transporting goods and people between states
- created to regulate railroad prices.
◉ productivity. Answer: A measure of the goods and services
produced within a particular country.
◉ services. Answer: Actions or activities that one person performs
for another
◉ trade surplus. Answer: A favorable balance of trade; occurs when
the value of a country's exports exceeds that of its imports.
◉ conservation. Answer: Preservation and protection of resources.
, ◉ non-renewable resource. Answer: Natural resources that cannot
be renewed or replaced
◉ needs. Answer: Basic requirements for human survival
◉ consumers. Answer: people who buy and consume from the
marketplace
◉ trade deficit. Answer: An excess of imports over exports
◉ pollution. Answer: Release of harmful materials into the
environment
◉ personal income. Answer: Salaries and wages as well as
investment income and government payments to individuals
◉ inflation. Answer: A rise in the general level of prices
◉ tariff. Answer: A government tax on imports or exports
◉ intrastate commerce. Answer: commerce conducted wholly
within one state