1. Inflation : a rise in the general level of prices of
goods and services in an economy over a period of time
2. Deflation : a decrease in the
general price level of
goods and services.
3. Stagflation : a portmanteau of stagnation and inflation, is a term used in economics to describe a situation where an inflation rate is
high, the economic growth rate slows down, and unemployment remains steadily
high.
4. Devaluation : a reduction in the
value of a currency with respect to those goods, services or other
monetary units with which that currency can be exchanged.
5. Gross Domestic
Product : market value of all officially recognized
final goods and services produced within a country in a given period of time.
6. Gross National Product : market
value of all the products and services produced in one year by labor and
property supplied by the residents of a country
7. Net National Product : total market value of
all final goods and services produced
by residents in a country or other polity during a given time period (gross national
product or
GNP) minus depreciation.
8. Disposable Income : total
personal income minus personal current taxes.
9. Unemployment : occurs
when people are without work and actively seeking work
10.Circular Flow : a simple economic model which
describes the reciprocal circulation of income between producers and consumers.
11.Free Market : a market structure in
which the distribution and costs of goods and services, along with the
structure and hierarchy between capital and consumer goods, are coordinated by
supply and demand unhindered by external regulation or control by
government or monopolies.
12.Dumping : an informal name
for the practice of selling a product in a foreign country for less than either
13.Labor Force : a
productive population aged 15-64 years who had a job but temporarily not
working, or who are actively seeking employment.
14.Quantity of Money : that explain the
relationship between money , prices ,
and economic; This relationship explains how the rate of inflation is
by controlling the amount of money in circulation
15.Monetary Policy : process by which the monetary authority of
a country controls thesupply of money, often targeting a rate of interest for the purpose of promoting economicgrowth and stability
16.Fiscal Policy : use of government revenue collection (taxation) and expenditure
(spending) to influence the economy
17.Economics Macro : study of the economy
as a whole. Macro-economics to
explain economic changes that affect many society, companies, and markets. Macroeconomics can be used to analyze
the best way to influence the discretion targets such as economic growth , price stability , employment and
the achievement of a balanced budget is sustainable.
18.Economics Micro : a branch of economics that studies the behavior of consumers and the
enterprise and determination of market prices and the quantity of factor
inputs, goods, and services are bought and sold.
19.Saving : savings may only be withdrawn under certain agreed conditions, but it
can’t be withdrawn by check, giro, and / or other equivalent devices that.
20.Taxes : a financial charge or other
levy imposed upon a taxpayer (an individual or legal entity) by a state or the functional equivalent of a state such that
failure to pay is punishable by law.