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Definition
| A refusal to have economic dealings with a person, a business, an organization, or a country |
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Definition
| A pattern of increases and decreases in economic activity |
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| An economic system in which there is private ownership of natural resources and capital goods |
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| An economic system based on one-party rule, government ownership of the means of production, and decision making by centralized authorities |
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Term
| Consumer Price Index (CPI) |
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Definition
| A measure of the change in cost of the goods and services most commonly bought by consumers. In some countries, the CPI is called the retail price index. |
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Definition
| A company owned by stockholders who have ownership rights to the company's profits |
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| A situation in which a government spends more money than it receives in revenues |
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Definition
| A very severe and prolonged contraction in economic activity |
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| A nation that has achieved industrialization, a market economy, widespread ownership of private property, and a relatively high standard of living |
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| All forms of buying and selling goods and services electronically |
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Definition
| A government ban on trade with another nation, sometimes backed by military force |
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Definition
| A nation that has lower levels of agricultural and industrial production, lower savings and investment, fewer resources, and lower per capita gross domestic product (GDP) than developed nations |
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Definition
| An economic system based on the private ownership of the means of production, free markets, and the right of individuals to make most economic decisions |
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Definition
| The process of rapid economic integration among countries. This integration involves the increased movement of goods, services, labor, capital, and technology throughout the world |
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Definition
| A monetary system in which a country's basic unit of currency is valued at, and can be exchanged for, a fixed amount of gold |
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Term
| Gross Domestic Product (GDP) |
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Definition
| The market value of all the goods and services produced in a nation within a specific time period, such as a quarter (three months) or a year. |
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Definition
| A sustained rise in the average level of prices |
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Definition
| The cost of borrowing money |
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Definition
| British economist John Maynard Keynes; The use of government spending to encourage economic activity by increasing the demand for goods. |
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Definition
| The minimum amount of money that employers may legally pay their employees for a set period of time worked. |
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Definition
| A situation in which only one seller controls the production, supply, or pricing of a product for which there are no close substitutes. |
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Term
| Multinational Corporation |
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Definition
| A corporation that operates in more than one country |
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Definition
| The money owed by a national government |
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Definition
| The lack of adequate income to maintain a minimum standard of living |
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Definition
| The relationship between the output of goods and services and the input of resources |
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Definition
| A period of declining economic activity |
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Definition
| An economic system in which the government owns most of the means of production and distribution |
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Definition
| The overall economic situation in which people live |
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Term
| Stock Market or Stock Exchange |
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Definition
| A place where stocks and bonds are bought and sold |
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Term
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Definition
| A work stoppage by employees to gain higher wages, better working conditions, or other benefits |
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Term
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Definition
| The forces that determine prices of goods and services in a market economy |
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Term
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Definition
| Government policies designed to stimulate the production of goods and services, or the supply side of the economy |
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Definition
| A fee charged for goods brought into a state or country from another state or country |
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Definition
| The practice of requiring persons, groups, or businesses to contribute funds to the government under which they reside or transact business |
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Definition
| The exchange of goods and services between coutnries |
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Term
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Definition
| The percentage of the labor force that is unemployed but actively looking for work. |
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