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Vocabulary about Economy

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DEFINITIONS IN the RIGHT ORDER of the grid handout

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  1.  In economics, is a sustained increase in the general price level of goods and services in an economy over a period of time. INFLATION


  2. Money a person or entity earns or gains in a specified timeframe.INCOME


  3. A regular payment made by an employer to an employee. WAGE


  4.  Purchase(=buying) of goods and services. CONSUMPTION


  5.  Benefit obtained. PROFIT


  6.  Lucrative; giving an advantage. PROFITABLE


  7.  Buying more things than needed. CONSUMERISM


  8. Products. GOODS


  9. To sale goods in large quantities, as for resale to a retailer. WHOLESALE


  10. To sale goods in small quantities, directly to consumers.RETAIL


  11. Welfare. A prosperous state. WELLBEING


  12. Basic materials that are used to produce goods, finished products, energy, etc. RAW MATERIALS.


  13. Place where stocks and shares are bought and sold. STOCK MARKET


  14. One of the equal parts into which the capital stock of a company is divided. SHARES


  15. Person who owns shares. SHAREHOLDER


  16. A ratio or percentage. The number or amount of something. RATE, INDEX


  17. Buying goods and services. PURCHASE


  18. Quantity or amount in excess of what is required.SURPLUS


  19. Products. GOODS, COMMODITIES


  20. Products available in the markets o stores.SUPPLY


  21. Products and services people need and require (ask for them). DEMAND


  22. A large amount of money and valuable material possessions.WEALTH


  23. Activities related to agriculture, livestock, fishing and forestry. PRIMARY SECTOR


  24. Activities related to the Tertiary sector like Education, trade, leisure activities, etc. To satisfy people needs. TERTIARY SECTOR


  25. A significant period of economic decline. RECESSION


  26. A period of economic expansion or increase. ECONOMIC GROWTH


  27. Facts or information related to the economy as a whole. This includes national, regional, and global economies. MACROECONOMIC DATA


  28. Amount of population unemployed with respect to the total population. (%) UNEMPLOYMEMT RATE


  29. Money in the form of bills or coins. Cash. CURRENCY


  30. The investing (=spending) of money or capital for profitable returns. INVESTMENT


  31. A group of countries with trade agreements, like not to pay taxes or customs (tasas aduaneras) COMMON MARKET


  32. Gross Domestic Product. It’s the gross national income. This is the value of all goods & services produced by a country & divided by the number of inhabitants. GDP


  33. Situation of being poor. Not to have enough resources to eat and live. POVERTY


  34. People who are in a harsh situation and they feel marginalized because of the lack of economic resources. SOCIAL EXCLUSION


  35. Participation in risky business transactions on the chance of quick or considerable profit. SPECULATION


  36. A loan for the purchase of real property, with the obligation to pay the interests every month. MORTGAGE


  37. Something that you have the finantial means for. You can buy it. AFFORDABLE


  38. Something that is owed, such as money, goods or services. You have the obligation to pay it. DEBT


  39. The amount of money a person or enterprise have available to spend or invest. BUDGET


  40. Person who works for themselves. Self-employed. FREELANCE


  41. People who are working in the household chores or domestic tasks. HOMEMAKERS


  42. Companies that belong to entrepreneurs as private properties. PRIVATE SECTOR


  43. Companies that are controlled by the State or official institutions. PUBLIC SECTOR


  44. Person who has a company or business. Businessman or businesswoman. ENTREPRENEUR


  45. The activity of buying or selling products, commodities or services. BUSINESS


  46. Documents or certificates that provide evidence of the studies that a person has made at the school, university, etc. PROFESIONAL QUALIFICATION


  47. Workers with a developed talent or ability. SKILLED WORKERS


  48. Trade made inside a country. DOMESTIC TRADE


  49. Trade made among one country and other countries. INTERNATIONAL TRADE


  50. The expenditures  (spendings, expenses) overcome the income or revenues. DEFICIT


  51. The revenues or income overcome the expenditures (spendings, expenses) SUPERAVIT


  52. The difference between imports and exports in a specific country in a specific period. BALANCE OF TRADE


  53. Wealth, specially in the form of financial or physical resources (money, goods, services, etc.) CAPITAL


  54. Goods, products or services that a country buy to other countries. IMPORTS


  55. Goods, products or services that a country sell to other countries. EXPORTS


  56. Trade with products from the underdeveloped countries being respectful with the producers in order they to receive a fair price. FAIR TRADE


  57. Money that the poorest countries are obliged to pay to their loaners (lenders or borrowers) EXTERNAL DEBT


  58. To take money on loan with the obligation to return it back. TO BORROW


  59. To be in debt to. To be obliged to pay the amount of some money. TO OWE


  60. A sum of money lent by a bank, usually with an interest fee. LOAN


  61. A charge for a loan, usually a percentage of the amount loaned. INTEREST


  62. Per unit of population. Per person. PER CAPITA


  63. International finalcial institution that provides loans to countries of the world for capital programs (infrastructures, commodities, services). Its goal is the reduction of poverty. WORLD BANK


  64. Formerly GDP. It’s the gross national income. This is the value of all goods & services produced by a country & divided by the number of inhabitants. GNI PER CAPITA

  65. People who buy goods and services. CONSUMERS

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