Pre_GED economics

Jean J. (United States of America)
108 words 5 learners

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Full list of words from this list:

words only definitions & notes
  1. balance of trade
    the difference in value over a period of time of a country's imports and exports of merchandise
  2. business cycle
    recurring fluctuations in economic activity consisting of recession and recovery and growth and decline
  3. capital
    a large alphabetic character used in writing or printing
  4. capitalism
    an economic system based on private ownership of assets
  5. civilian
    a nonmilitary citizen
  6. communism
    a theory favoring collectivism in a classless society
  7. competition
    the act of contending with others for rewards or resources
  8. consumer price index
    an index of the cost of all goods and services to a typical consumer
  9. consumer
    a person who uses goods or services
  10. contract
    a binding agreement that is enforceable by law
  11. corporation
    a business firm recognized by law as a single body
  12. credit
    an estimate of ability to fulfill financial commitments
  13. criminal
    someone who has committed a punishable act
  14. currency
    the metal or paper medium of exchange that is presently used
  15. deficit spending
    paying with money attained through loans
  16. deflation
    the act of letting the air out of something
  17. demand
    request urgently and forcefully
  18. depression
    a sunken or lowered geological formation
  19. discrimination
    unfair treatment of a person or group based on prejudice
  20. divisibility
    the quality or capacity of being separated into parts
  21. down payment
    a partial payment made at the time of purchase
  22. durability
    permanence by virtue of the power to resist stress or force
  23. easy money
    income obtained with a minimum of effort
  24. economic system
    the system of production and distribution and consumption
  25. embargo
    a government order imposing a trade barrier
  26. entrepreneur
    someone who organizes a business venture
  27. equal opportunity
    the right to equivalent opportunities for employment regardless of race or color or sex or national origin
  28. expansion
    the act of increasing in size or volume or quantity or scope
  29. export
    sell or transfer abroad
  30. production
    the act or process of making something
  31. regulation
    the act of bringing to uniformity
  32. fiscal policy
    a government policy for dealing with the budget
  33. exchange
    the act of changing one thing for another thing
  34. free enterprise
    an economy relying on market forces to allocate resources
  35. free trade
    the exchange of goods without governmental interference
  36. benefit
    something that aids or promotes well-being
  37. welfare
    something that aids or promotes well-being
  38. good
    having desirable or positive qualities
  39. GNP
    total value of goods and services produced in a country
  40. hopper
    someone who leaps
  41. quota
    a prescribed number
  42. import
    bring in from abroad
  43. income tax
    a charge by the government on someone's annual earnings
  44. industry
    the action of making of goods and services for sale
  45. inflation
    the act of filling something with air
  46. interest
    a sense of concern with and curiosity about something
  47. trade
    the commercial exchange of goods and services
  48. investing
    the act of investing
  49. labor
    any piece of work that is undertaken or attempted
  50. labor union
    an employee organization that bargains with an employer
  51. land
    the solid part of the earth's surface
  52. limited
    subject to restrictions or constraints
  53. manufacturing
    the act of making something (a product) from raw materials
  54. market
    a store where groceries are sold
  55. market price
    the price at which buyers and sellers trade the item in an open marketplace
  56. market economy
    an economy that relies on market forces to determine prices
  57. medium of exchange
    anything that is generally accepted as a standard of value and a measure of wealth in a particular country or region
  58. mixed economy
    an economic system that combines private and state enterprises
  59. money
    the most common medium of exchange
  60. monopoly
    a market in which there are many buyers but only one seller
  61. national debt
    the debt of the national government
  62. origin
    the place where something begins
  63. need
    require or want
  64. nuisance
    anything that disturbs, endangers life, or is offensive
  65. oligopoly
    a market in which a few producers control a commodity
  66. opportunity cost
    the benefits lost by choosing one option over another
  67. partnership
    a cooperative relationship between people or groups
  68. peak
    a V shape
  69. competition
    the act of contending with others for rewards or resources
  70. portability
    the quality of being light enough to be carried
  71. price support
    a government subsidy used to maintain prices at a certain level
  72. private property
    movable property (as distinguished from real estate)
  73. producer
    someone who manufactures something
  74. market economy
    an economy that relies on market forces to determine prices
  75. profit
    the advantageous quality of being beneficial
  76. property tax
    a capital tax on property imposed by municipalities
  77. public
    not private
  78. welfare
    something that aids or promotes well-being
  79. recession
    the act of returning control
  80. reserve
    hold back or set aside, especially for future use
  81. resource
    aid or support that may be drawn upon when needed
  82. resource
    aid or support that may be drawn upon when needed
  83. retirement account
    a plan for setting aside money to be spent after retirement
  84. risk
    a source of danger
  85. sales tax
    a tax based on the cost of the item purchased and collected directly from the buyer
  86. scarcity
    a small and inadequate amount
  87. self-interest
    concern for your own interests and welfare
  88. service
    an act of help or assistance
  89. shortage
    an amount that is less than expected or required
  90. skill
    an ability that has been acquired by training
  91. socialism
    a political theory advocating state ownership of industry
  92. proprietorship
    an unincorporated business owned by a single person who is responsible for its liabilities and entitled to its profits
  93. specialization
    making something suitable for a particular purpose
  94. stability
    the quality or attribute of being firm and steadfast
  95. standard of living
    the level of material goods and services available
  96. stock
    a supply of something available for future use
  97. stockholder
    someone who holds shares of stock in a corporation
  98. value
    the quality that renders something desirable
  99. strike
    deliver a sharp blow, as with the hand, fist, or weapon
  100. surplus
    a quantity much larger than is needed
  101. tariff
    a government tax on imports or exports
  102. tax
    a charge that a citizen pays to support government programs
  103. tight money
    the economic condition in which credit is difficult to secure and interest rates are high
  104. time deposit
    a certificate of deposit from which withdrawals can be made only after advance notice or at a specified future date
  105. economy
    the system of production and distribution and consumption
  106. trough
    a long narrow shallow receptacle
  107. unemployed
    not engaged in a paying work
  108. want
    the state of needing something that is absent or unavailable
Created on Thu Sep 13 20:30:08 EDT 2012

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