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CIV M7L1 Key Terms

Civics Module 7 Lesson 1 Key Terms

TermDefinition
Fiscal Policy How the government collects taxes and spends the tax money to influence the economy.
Public Goods Goods and services provided by the government that benefit all people.
Business Cycle The natural rise and fall of the economy that occurs over time.
Prosperity A time of general financial well-being.
Peak The highest point in a business cycle during a period of economic growth.
Trough The lowest point in a business cycle during a period of economic decline.
Recession A decline in the economy over a short period of time.
Recovery When the economy is growing after a recession or depression.
Depression A decline in the economy over a long period of time.
Unemployment When someone is able to work but cannot find a job.
Created by: dmcsorley13
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