Economics
Bankruptcy
A legal status of a person or entity that cannot repay the debts it owes to creditors.
Basic Income
A government program that guarantees all citizens or residents a regular, unconditional sum of money, regardless of other income sources.
Capitalism
An economic system characterized by private ownership of the means of production and the operation of market forces.
Consumer Price Index (CPI)
A measure of the average change over time in the prices paid by consumers for a basket of goods and services.
Consumerism
The theory or policy that encourages the acquisition of goods and services in ever-increasing amounts, often associated with the consumption-driven economy.
Debt
Money borrowed that is expected to be paid back with interest. Debt can refer to both personal borrowing or national debt.
Deflation
A decrease in the general price level of goods and services, often associated with a reduction in the supply of money.
Economy
The system of production, distribution, and consumption of goods and services within a society, country, or area.
Entrepreneurship
The process of starting and running a new business, typically with the goal of making a profit by offering goods or services.
Exchange Rate
The value of one country’s currency in relation to another country’s currency, affecting the cost of imports and exports.
Fiscal Policy
Government policy related to taxation and spending aimed at influencing the country’s economic performance.
Globalization
The process by which businesses or other organizations develop international influence or start operating on an international scale.
Inflation
The rate at which the general level of prices for goods and services rises, eroding purchasing power.
Investment
The action or process of investing money for profit, typically in assets like stocks, bonds, or real estate.
Labour Market
The supply and demand for labor, where employees provide the workforce and employers offer job opportunities.
Macroeconomics
The branch of economics that studies the behavior and performance of the entire economy, including issues like inflation, unemployment, and national income.
Microeconomics
The branch of economics that deals with individual markets, firms, and households, focusing on supply and demand, and price formation.
Monetary Policy
The process by which a country’s central bank manages the money supply and interest rates to control inflation and stabilize the economy.
Public Debt
The total amount of money the government owes to external creditors and domestic lenders.
Recession
A period of declining economic activity, typically measured by two consecutive quarters of negative GDP growth.
Stock Market
A market in which shares of publicly held companies are issued and traded, often through exchanges like the New York Stock Exchange or NASDAQ.
Supply and Demand
The economic model of price determination in markets, where the price of a good or service is determined by its supply and the demand for it.
Socialism
An economic and political system where the means of production, distribution, and exchange are owned or regulated by the community as a whole.
Tax Evasion
The illegal practice of deliberately avoiding paying taxes owed to the government.
Taxation
The process by which governments collect money from individuals and businesses to fund public services and infrastructure.
Trade Balance
The difference between the value of a country’s imports and exports. A trade surplus occurs when exports exceed imports, while a deficit occurs when imports exceed exports.
Unemployment
The state of being without a job, actively seeking work, and available for employment.
Wealth Distribution
The way in which wealth and income are shared among the members of a society, often a topic of debate regarding economic fairness.
Welfare
Government programs designed to support individuals who are unable to provide for themselves due to disability, unemployment, or other challenges.
Want to explore more? Stay tuned for new terms and updates!