1. Let’s Talk Economics
The following group of terms are economic terms that you will not only hear when talking about Ancient Rome, but even in “real life” in the present.

2. First of all… “What is economics?”
Well, simply put, it is “the science that deals with the production, distribution, and consumption of wealth”.
Or, in other words, it is studying how people use money.

3. So what are the terms that you have to know?
Import
Export
Market

4. Trade good brought into a country
Import
Trade good brought into a country

5. Trade goods sent to markets outside a country
Export
Trade goods sent to markets outside a country

6. Mercantilism
Economic theory that a nation’s strength came from building up its gold supplies and expanding its trade.

7. A demand for goods; the opportunity to buy or sell.
Market
A demand for goods; the opportunity to buy or sell.

8. Colonial trade route between new England, the West Indies, and Africa.
Triangular Trade
Colonial trade route between new England, the West Indies, and Africa.

9. So what are other terms that you have to know?
Supply
The amount of an item that is in stock or available
Demand
The level of want/need for an item