Key Words Flashcards
1
Q
Inflation
A
To increase prices of items. Usually increases small amounts over years
2
Q
Trade
A
When two country’s pay for different resources/goods between each-other
3
Q
Tariff
A
A tax placed on a item for being imported between country’s. This makes the items more expensive to sell
4
Q
Interest rates
A
A percentage increase added to amount of money that is loaned which is needed to pay back
5
Q
Boom
A
When a country is making lots of money through its industry and trade
6
Q
Bust
A
When a country’s production slows down and they lose money
7
Q
Prosperity
A
When the standard of living in a country is very good due to its growing economy
