Economics Terms

2. a set of actions to control a nation's overall money supply and achieve economic growth
3. the amount a lender charges a borrower and is a percentage of the principal
7. occurs when securities are on the rise
11. a condition or state in which economic forces are balanced
13. a period of increased commercial activity within either a business, market, industry, or economy as a whole
14. the value or benefit given up by engaging in that activity, relative to engaging in an alternative activity
16. when a company or business grows so large that the costs per unit increase.
17. the average tax rate, or amount of tax paid as a percentage of income, decreases as income increases
20. the use of government spending and taxation to influence the economy

1. monetary measure of the market value of all the final goods and services produced and sold in a specific time period by countries.
4. the cost advantages that enterprises obtain due to their scale of operation
5. a good that is both non-excludable and non-rivalrous
6. commodities that the public sector provides free or cheaply because the government wishes to encourage their consumption.
8. a principle of economics that captures the consumer's desire to buy the product or service
9. the rate of increase in prices over a given period of time
10. occurs when securities fall for a sustained period of time
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.
15. when a supplier sets a fixed price for a good or service for a certain time period
18. a significant decline in economic activity spread across the market
19. the total amount of a given product or service a supplier offers to consumers at a given period and a given price level.