Economics Handbook, Nov 5th Flashcards
0
Q
Depression
A
A severe drop in overall business activity over a long period of time
1
Q
Demand
A
The amount of goods and services that consumers and willing and able to buy at a given time
2
Q
Inflation
A
An increase in overall prices
3
Q
Supply
A
The amount of goods and services that are available at a given time
4
Q
Barter
A
The exchange of one good or service for another
5
Q
Exports
A
Goods or services that a country sells and sends to another country
6
Q
Imports
A
Goods or services that a country brings in or purchases from another country
7
Q
Tarrif
A
A tax on imported goods
8
Q
Recession
A
The economy slows down and there’s less trade and prosperity for the nation
