12
Lesson 12 of 84 · Trade and Commerce
How Global Trade Works
Communities need many jobs: teachers, doctors, police, builders, farmers, shopkeepers. Jobs provide income for workers and goods or services for the community.
Key Facts
1
Every choice has an opportunity cost.
2
Money is a medium of exchange.
3
Needs are different from wants.
Check Your Understanding
Question 1
1 of 2What happens when demand is high and supply is low?