Vocab words
Terms
undefined, object
copy deck
- economic stimulation
- when the economy is boosting in a country
- Quota
- a limitation on imports
- Oligopoly
- A from of competition in which just a few sellers dominate the market
- trademark
- A legally protected name, symbol, or design that identifies the goods or services of one seller and distinguishes them from those of competitors
- trade alliances
- several countries merging into one big market
- tarriff
- A tax on imports or exports
- embargo
- a government order imposing a trade barrier
- breach of contract
- when one party fails to live up to the terms of a contract
- trade deficit
- an excess of imports over exports
- exports
- goods traded to other countries
- Balance of trade
- the difference in value over a period of time of a country's imports and exports of merchandise
- protectionism
- the policy of imposing duties or quotas on imports in order to protect home industries from overseas competition
- domestic trade
- trade within a country
- multinational corporation
- a company with branches in many countries
- patent
- a document granting an inventor sole rights to an invention
- Standard of living
- the quality of life based on the possession of necessities and luxuries that make life easier.
- inflation
- a general and progressive increase in prices
- prosperity
- an economic state of growth with rising profits and full employment
- free trade
- international trade free of government interference
- specialization
- When a person, country, or region works on making one part of an item
- economic
- the economy or relating to an economy, the system of production and management of material wealth
- Monetary Policy
- domestic government policies affecting interest rates and the supply of money available within an economy
- The Fed
- the Federal Reserve
- contract
- an agreement between two or more parties
- imports
- goods brought into a country
- budget surplus
- More income (revenue) than expenses.
- world trade
- imports plus the exports for the entire world
- unemployment rate
- the percentage of the labor force actively seeking work but inable to find jobs
- international trade
- exchanging goods and services between countries
- economic slowdown
- a decline in a country's real gross domestic product (GDP), or negative real economic growth, for two or more successive quarters of a year.
- budget deficit
- the amount by which government spending exceeds revenue
- inflation rate
- the rate of change of prices (as indicated by a price index) calculated on a monthly or annual basis
- GDP
- Gross Domestic Product- the total market value of all final goods and services produced annually in an economy
- copyright
- Copyright is a form of protection provided by the constitution to the creators of "original works of authorship,"
- depression
- a long-term economic state characterized by unemployment and low prices and low levels of trade and investment
- Trust
- extend credit to
- exchange rate
- The value of one nation's currency relative to the currencies of other countries
- fiscal policy
- a government policy for dealing with the budget (especially with taxation and borrowing)
- trade surplus
- the amount a nations exports exceed the imports
- monopoly
- a product or service who is controlled by a single company
- recovery
- return to an original state
- recession
- withdrawal; retreat; time of low economic activity