Key Words Flashcards
1
Q
Interest rate
A
Cost for borrowing and reward for saving
2
Q
Unemployment
A
When you do not have a job but you are looking for one
3
Q
Overdraft
A
When more money is taken out of a bank account than has been paid into it
4
Q
Income elasticity
A
Measures the relationship between changes in consumer income and the sales of a good
5
Q
Recession
A
The country is not making enough money from its GDP (gross domestic product) which causes all of the people to be affected (chain reaction)
