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