| A | B |
|---|
| excise tax | tax on luxury goods |
| monopoly | one entity having total control of an item or activity |
| boycott | non-violent method of protest by not participating |
| capitalism | free market economic system |
| stocks | pieces of ownership of a corporation |
| dividend | one part of profit of a corporation |
| inflation | economic term used to describe time of high prices, wages |
| Federal Reserve System | Bank for other banks. Determines interest rates |
| union | organization of workers to improve conditions for workers |
| benefits | extra things for workers like insurance, paid holidays, retirement plans |
| interest | money charges on borrowed money, Major source of income for banks. |
| income tax | main source of income for Fed. government |
| single proprietorship | one owner |
| partnership | two or more owners |
| corporation | business form which limits individual liability al |
| depression | slowdown of economic activity |
| budget | a spending plan |
| money | medium of exchange |
| barter | economic system whereby goods are exchanged for goods and services |
| goods | material items made and used by people |
| resources | anything that can be used |
| services | work that does not produce material items |
| demand | amount of product or service people want |
| equilibrum price | the price where supply and demand meet |
| Gross National Produce | total value of goods and services produce in a year |
| collective bargaining | negotations between union leaders and management |
