| A | B |
|---|
| macroeconomics | section of economics that deals with employment, inflation, GDP, immigration |
| microeconomics | section of economics that deals with household and business decision making |
| economy | a system that deals with the production, distribution, and consumption of goods and services. |
| households | sector that provides time and skills to businesses in exchange for income |
| government | sector of the economy that deals with the collection of taxes |
| overseas | sector of the economy that deals with imports and exports |
| import | term used when we buy goods from other countrires |
| export | term used when other countries buy our goods |
| firms | this sector of the economy produces outputs to sell to households |
| revenue | name given to money businesses receive from consumers when they sell goods or services |
