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Chapter 3 LA History Vocabulary 8th GR Part II

Terms in this set (17)

mineral resources
inorganic substances that were formed by Earth's geological processes
nonrenewable
a resource that cannot be replaced by nature once they are extracted from the environment
Lignite
a soft brownish-black coal that burns poorly because of its high water content
biological resources
plants and animals; also called flora (plants) and fauna (animals)
renewable
they replenish themselves over time
pulpwood
smaller, softer trees (mostly pine) that are shredded into pulp to be made into paper
labor unions
An organization formed by workers to strive for better wages and working conditions
private goods and services
goods and services produced in a free market economy
public goods and services
Goods and services provided by a government for the use of all people.
interdependent
dependent on one another; mutually dependent
Superport
the only facility in the United States capable of handling extremely deep ships
Tariff
A tax on imported goods
economic indicators
statistics that measure the performance of the economy
Gross Domestic Product
the total value of goods produced and services provided in a country during one year.
Consumer Price Index
an index of the variation in prices paid by typical consumers for retail goods and other items.
inflation
A continuous rise in the price of goods and services
unemployment rate
the portion of people in the labor force who are not working
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