Economics Terms

2. the rate of increase in prices over a given period of time
4. when a company or business grows so large that the costs per unit increase.
5. the average tax rate, or amount of tax paid as a percentage of income, decreases as income increases
8. a condition or state in which economic forces are balanced
9. a principle of economics that captures the consumer's desire to buy the product or service
11. the value or benefit given up by engaging in that activity, relative to engaging in an alternative activity
13. a set of actions to control a nation's overall money supply and achieve economic growth
15. monetary measure of the market value of all the final goods and services produced and sold in a specific time period by countries.
16. the total amount of a given product or service a supplier offers to consumers at a given period and a given price level.
18. when a supplier sets a fixed price for a good or service for a certain time period
19. a period of increased commercial activity within either a business, market, industry, or economy as a whole

1. occurs when securities fall for a sustained period of time
3. a significant decline in economic activity spread across the market
6. the amount a lender charges a borrower and is a percentage of the principal
7. the use of government spending and taxation to influence the economy
8. the cost advantages that enterprises obtain due to their scale of operation
10. occurs when securities are on the rise
12. a tax where the. average tax rate, or the total amount of. tax paid as a percentage of income, increases as the taxpayer's income. increases.
14. commodities that the public sector provides free or cheaply because the government wishes to encourage their consumption.
17. a good that is both non-excludable and non-rivalrous