| Term | Definition |
|---|
| Inflation | a general and progressive increase in prices |
| Unemployment | the state of being unemployed or not having a job |
| Wage Rates | amount of money a worker earns for each hour worked |
| Interest Rates | What the bank charges us to borrow money |
| Opportunity Cost | Choosing one opportunity over another which results in you missing out on something |
| Supply and Demand | As the demand goes up, supply goes down, because if there is less of something, more people want it. If there is more of something, less people want it. |
| Exchange Rate | the charge for exchanging currency of one country for currency of another |
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