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22 terms

9th grade global studies

Economics Vocabulary
STUDY
PLAY
infant mortality rate
# people dying between birth and 1 year old
per capita
average per person
poverty line
minimum income level to survive
export
Goods sent to another nation
import
Goods brought from another nation
revenue
amount of income
inflation
increase in price of goods and services
Gross Domestic Product
Total value of goods and services produced by a nation
population density
# of people per land area
external debt
$ owed to creditors outside the nation
literacy
Ability to read and write
life expectancy
Average # of years that someone lives
unemployment
Workers not fully used b/c no appropriate jobs are available
labor
productive work
economy
system where good are produced, distributed and used
expenditures
spending money for goods or services
budget
$ allocated for a certain purpose
market
Business activity where goods and services are bought and sold
market Economy
an economy that relies on tradeing/selling
Mixed economy
elements of both public and private enterprize
Command Economy
Government makes all decisions
Traditional Economy
People make all the good sthey need for themselves