| A | B |
|---|
| Market Economy | System in which buyers and sellers determine price and production of goods and services |
| Trade | The exchange of goods or services for other goods or services or money |
| Deflation | Decrease in the general price of goods and services |
| Inflation | Increase in the general price of goods and services |
| Consumer | Someone who buys the goods or services |
| Producer | Someone who makes the goods or provides the service |
| Economic Sanctions | Withholding loans or trade relations with another country to force the country to comply |
| Embargo | Government restriction on trade with another country |
| Exchange Rate | The value of one currency when compared to another countries currency |
| International Trade | Exchange of goods and services with another country |
| Quota | Specific amount of goods assigned to a country or group |
| Tariff | Tax imposed on imported goods |
| Trade Barrier | Something that prohibits or limits trade between two countries |
| Spending | The use of money to buy goods or services |
| Saving | Income that is set aside for future use |
| Borrowing | The use of someone else's money with the promise to repay the loan later |
| Demand | The number of consumers who want to buy a good or service |
| Supply | The quantity of goods or services that sellers offer |
| Price | The amount of money people pay for a good or service, determined by the supply and demand of the product |
| Incentives | Something that convinces someone to do a job, either by fear or reward |
| Income | Receiving money for salary, rent or interest |
| Interest | Charge for a loan, usually a percentage of the amount loaned |
| Productivity | A measure of the goods and services produced over a given amount of time and resources |
| Profit | The difference between the cost of producing the goods and the money received for the sale |
| Wages | The payment for labor, usually given in either hourly, daily or weekly basis |
| Budget | Plan for saving, spending and borrowing money |
| Credit | An arrangement for paying for goods at a later time (borrowing) |
