Vocab Flashcards
learn
volatile market
high price fluctuations
volatile
mining is a volatile industry because the price changes frequently for the resource.
recession
two consecutive periods of neg economic growth
capital goods
items that have not been produced for immediate consumption but will be used for the prod of other goods eg. scientific research.
tariff
tax on importing
purchasing power
financial ability to buy G&S
equilibrium
occurs in circular flow of income when the sum of all leakages is equal to sum of all injections into an economy.
3 leakages
savings, taxation, imports
3 injections
gov spending, investment, exports
business cycle
fluctuations in the level of econ growth due to domestic or international factors.
subsidy
gov funds something
social security
Aus = social welfare
(in UK) monetary assistance from the state for people with inadequate or no income.
equities
shares
quantitative easing (QE)
printing money to increase spending, money flow.
basis point
percentage. Used in expressing interest rate