Economics Vocabulary

5. The process of governments buying up industries or assets from private firms or individuals.
6. Income tax and corporation tax are examples of this type of tax.
9. The part of economics concerned with large-scale or general economic factors, such as interest rates and national productivity.
11. Quotas, import taxes and currency controls are all examples of ____________________.
13. Costs that affect only the producer or consumer.
14. Unemployment caused by falling aggregate demand during a recession.

1. Unemployment caused by skills becoming outdated and industry becoming rundown.
2. The part of economics concerned with single factors and the effects of individual decisions.
3. The process of governments selling industries and assets to private firms.
4. sales and import taxes are examples of this type of tax.
7. Unemployment caused by people taking time moving between jobs.
8. Policies that involve using taxation and public spending to influence aggregate demand or supply.
10. Unemployment due to low demand at certain times of year.
12. Effects of Business activity and decisions on society and the environment.