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AP World History Foundational Vocabulary (Economic) Flashcards

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10499418374Agrarianconcerning farms, farmers, or the use of land0
10499418375pastoralA work of literature dealing with rural life1
10499418376commercethe buying and selling of goods and services2
10499418377pastoralused for or related to the keeping or grazing of sheep or cattle3
10499418378commoditya raw material or primary agricultural product that can be bought and sold, such as copper or coffee.4
10499418379SurplusA situation in which quantity supplied is greater than quantity demanded5
10499418380ExportA good or service produced in the home country and sold in another country.6
10499418381importbring (goods or services) into a country from abroad for sale.7
10499418382Inflationa general increase in prices and fall in the purchasing value of money.8
10499418383labor systemssystem of labor in which people do specialized jobs9
10499418384Industrializationthe development of industries in a country or region on a wide scale.10
10499418385Specialization of LaborFocusing work effort on a particular product or a single task11
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