TN Vocab SS 7.2
__1. contemporaryA. two or more countries
__2. demographicsB. of the present time, modern times
__3. depressionC. a fact, occurrence, or circumstance observed or observable
__4. inflationD. general tendency
__5. internationalE. rise in prices and a decrease in the value of money
__6. phenomenaF. statistical information about the population, such as income
__7. recessionG. period when prices & wages fall, unemployment rises
__8. resource allocationH. is the distribution of resources among various people or co,
__9. scarcityI. insufficiency or shortness of supply
__10. trendJ. economic slump that is milder than a depression
__11. demandA. a quantity of something on hand or available
__12. economic systemB. sets rules for deciding what goods & services to produce
__13. NAFTAC. agreement between 3 countries to take down trade barriers
__14. supplyD. state of being wanted or sought for purchase or use
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