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Micro/Macroeconomics
| Term | Definition |
|---|---|
| Economic institutions | Organizations or systems that shape the rules and norms that govern economic activity and influence the behavior of households and firms. |
| Stabilization policies | A type of economic policy aimed at maintaining stability in the economy by minimizing fluctuations in economic activity, such as inflation, unemployment, and business cycles. |
| Fiscal policy | The use of government spending and taxation to influence the economy. It is an important tool that governments can use to manage demand and achieve their economic objectives. |
| The Federal Reserve | The central banking system of the United States. The Fed is responsible for implementing monetary policy in the United States, which is the process of regulating the supply of money and credit in the economy in order to achieve economic goal. |
| Trade associations | Organizations that represents of a particular industry or group of businesses. These can help to promote the competitiveness of an industry but may also be criticized for promoting the interests of their members at the expense of other stakeholders. |
| Economic fluctuations | Short-term changes in economic activity, such as changes in GDP, employment, and prices. These can take the form of booms, which are periods of rapid economic growth, or recessions, which are periods of economic contraction. |
| Macroeconomics | Branch of economics that studies the behavior of the economy as a whole. |
| Gross domestic product (GDP) | A measure of the total economic output of a country. It is the sum of the market values of all goods and services produced within a country in a given period of time. |
| Unemployment Rate | This is a measure of the percentage of the labor force that is unemployed but actively seeking employment and willing to work. |
| Inflation rate | The percentage change in the level of prices of goods and services over a period of time. It is a measure of the rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling. |
| Interest rate | This is the amount of money charged by a lender to a borrower for the use of assets. |
| Stock Market | This is a financial market where stocks (also known as equities) are bought and sold. Stocks represent ownership in a company, and the stock market is a place where publicly traded companies can raise money by selling stocks to investors. |
| Microeconomics | This is a branch of economics that studies the behavior of individual households, firms, and industries and how they make decisions regarding the allocation of limited resources. |
| Economic expansion | This refers to a period of sustained increase in the production of goods and services in an economy over a specific period of time, such as a year or a quarter. |
| Economic growth | A broader concept that refers to an increase in the productive capacity of an economy over a longer period of time. It is typically measured as the percentage increase in a country's GDP or GNP over a longer period, such as a decade. |
| Prices | In Microeconomics, this a great economic indicator. For example, if they are rising, it may indicate that there is strong demand for a particular good or service, while if they are prices may indicate that there is excess supply or weak demand. |
| Profit | This is the excess of revenue over costs. It is the amount of money that a company or organization makes after subtracting all of its expenses. This is a key measure of a company's financial performance and is an important goal for many businesses. |
| Wages | Reflects the level of compensation that workers receive for their labor. Changes in this can provide valuable information about the state of the labor market and the overall health of the economy. |
| Production | This is the process of creating goods or services.from raw materials or inputs into finished products through the use of labor, capital, and technology. |
| Monetary policy | This is the process of regulating the supply of money and credit in an economy in order to achieve the economic goals and manage demand. Implemented by central banks, such as the Federal Reserve in the United States, . |
| Infrastructure | This refers to the basic physical systems, facilities, and services that are necessary for an economy to function. Provides the necessary utilities for businesses to operate and for people to live and work. |
| Recession | A period of economic contraction, generally considered to be a relatively mild downturn in the economy, and it is typically followed by a period of recovery and economic growth. |
| Natural disaster | A catastrophic event that is caused by natural phenomena, such as earthquakes, hurricanes, floods, or volcanic eruptions. |
| Depression | A severe, long-term downturn in economic activity. It can last for several years or even decades. This is typically more severe than a recession, and can have far-reaching and long-lasting effects on an economy. |
| Private sector organization | This is a business or company that is owned and operated by private individuals or investors, rather than by the government. |
| For-Profit organization | A business or company that is established with the primary goal of generating profits for its owners or shareholders. These companies are motivated by the desire to maximize financial returns for their owners or shareholders. |
| public sector organizations | Businesses or companies that are owned and operated by the government. They are typically established to provide goods or services that are considered to be in the public interest, such as education, healthcare, and transportation. |
| Financial institutions | Organizations that provide financial services, such as banking, lending, and investing. They provide the necessary infrastructure for individuals and businesses to manage their financial affairs and access credit. |
| Non-governmental organizations (NGOs) | These are organizations that are not affiliated with a government and that are typically focused on charitable or social purposes. These can be either non-profit or for-profit organizations. |
| Non-profit organization | This is a business or company that is established for charitable or social purposes and that does not aim to generate profits for its owners or shareholders. These are typically motivated by the desire to serve a particular social or environmental cause. |
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mg999
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