Bartering, trading, supply and demand

Barter does not use money

Trade uses money

The amount of goods or services that people can SELL is called SUPPLY

Just remember SELL=SUPPLY and they both begin with the letter "S"

The amount of goods and services that people WANT and can BUY is called DEMAND

When you WANT something you might DEMAND that your parents BUY it for you

In order for people to buy stuff, there must be a supply of things.

Without supply, demands couldn't be met

Import means bringing products and resources into one country from another

IMPORT=IN they both start with "I" when things are imported, they are taken in

Export means to send products and resources from one country to another

EXPORT=EXIT both start with "EX" and exit means to leave, so when products are exported they are leaving one country to go to another