Examlex
Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
émigrés
Economy
The method by which goods and services are produced, distributed, and consumed in a specific geographical area.
Specialization
The process of focusing effort and resources on a particular area of expertise or production to increase efficiency and output.
Barter System
An economic system where goods and services are directly exchanged for other goods and services without the use of money.
Monetary Exchange
The process of trading goods and services using money as a medium of exchange rather than direct barter.
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