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Answer Key
Grade 8 Social Studies: Economics — Markets, Government & Globalization
1.
buyers and sellers exchanging goods and services
2.
something encouraging a choice or action
3.
increasing connection of economies and trade across borders
4.
government rules shaping economic activity
5.
giving up one benefit to get another
6.
amount of a good or service available
7.
amount consumers want at a given price
8.
Answers vary: higher prices encourage supply, affect buyer choices
9.
buyers and sellers exchanging goods
10.
something encouraging a choice
11.
economies connecting across borders
12.
government rules on economic activity
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