A series of economic expansion and contractions.
BUSINESSCYCLE
Human made items that are used to produce goods
Capital
A socialist or communist economy in which the government controls the goods and distribution of goods
COMMANDECONOMY
Based on the one party rule.
Communism
A measure of the change in cost of the goods and services most commonly bought by consumers
CONSUMERPRICE
A deep and long lasting contradiction; creates unemployment
Depression
An official ban on trade or other commercial activity with a certain country
Embargo
The private ownership of the means of production, free markets, and the right of individuals to make most economic decisions
FreeEnterprise
The market value of all the goods and services produced in a nation within a specific time period.
GROSSDOMESTICPRODUCT
The use of government spending to encourage economic activity through increasing the demand for goods
KEYNESIANECONOMICS
A policy where the government cannot not interfere in business matters
LAISSEZFAIRE
The belief by the of a society that something is proper and has the consent of the governed
LEGITIMACY
The amount of money that employers may legally pay their employees
MinimumWage
A situation in which any one seller controls production and supply or pricing of a product
MONOPOLY
The money owed by a national government
NationalDebt
The government owns and controls capital and also sets prices.
Socialism
The capital raised by a business through subscription of a piece of a corporation bought by the consumer
Stock
Where stocks and bonds are traded
StockMarket
A work stoppage by employees in order to gain better benefits
Strike
Government policies designed to stimulate the production of goods.
SUPPLYSIDEECONOMICS
The number of people who are out of work possibly due to a depression
Unemployment
Income paid by the government to people who need the money to live
Welfare
The government has no control of natural resources and capital goods
Free Market
The level of wealth, comfort and material goods
StandardofLiving
The relationship between the output of goods and services and the input of resources
PRODUCTIVITY

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