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15 terms

Econ Speak!

with the struggling economy dominationg the headlines, these key terms will help you make sence of it all
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Cost of Living
the money needed to meet day-to-day expenses, like food, rent, and transportation.
Recession
a prolonged decline in business activity, people fear they will lose thier jobs or have already lost them.
Depression
a period of dramatic and sustained economic decline in which unemployment rises sharply.
Inflation
a steady increase in the price of goods and services.
Deflation
a decrease in the prices of goods and services, usually due to a weak economy.
Outsourcing
assigning tasks to other companies, usually to save money.
Mortgage
a loan for the purchace of a house.
Foreclosure
a legal process in which the bank takes possession of a house when the borrower is unable to keep making the mortgage payments.
Underwater
when homeowners owe more on thier mortgage than thier homes are currently worth.
Wall Street
a street in Lower Manhatten where the New York Stock Exchange and other key financial institutions are located.
Main Street
a shorthand for the small businesses and middle class Americans who make up the foundation of the U.S. economy.
Stock
a share of a business that an investor can buy.
Stock Market
an exchange where shares of stock are bought and sold by investors.
Bulls
are excited, optomistic about the economy and the stock market.
Bears
are gloomy, pessimistic about the economy and the stock market.