Important Economics Terms (Ouch)

4. Asset pledged by a borrower to give in case they are unable to pay back a loan; if a loan is not paid, the lender can simply sell this to make up for it
8. Plural; Effects caused by but not affecting the market itself, corrected outside of the market
9. Two words (no space), Property resulting from intellectual efforts such as designs, inventions and patents; well known to gamers as simply an IP
13. Two words (no space), increase in an economy's production of goods and services (measured via GNP or GDP)
14. Three words (no space), interest-earning savings account with limited transaction privileges
15. Kind of unemployment resulting from changes in the economy that make certain workers temporarily unnecessary

1. Kind of unemployment resulting from normal economics such as people between jobs or seasonally employed
2. Two words (hyphenated), French meaning roughly "to let do". Capitalism with little government interference.
3. Two words (no space), tax that goes up as the income of the taxed goes down
5. Two words (no space), amount of money available to a person after necessities (needs) are purchased.
6. Two words (no space), people above 16 able to work that are seeking or in a full time job
7. Two words (no space), advantage one firm has over others allowing them to create a certain product better, faster or cheaper
10. Kind of unimployment resulting from the contraction phase of a business cycle
11. Two words (no space), tax that goes up as the income of the taxed goes up
12. Two words (no space), percentage of workforce that is unemployed in a population