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ENGLISH EXAM

TermDefinition
aggregate deman = (łączny popyt) - is the total amount spent in a country by consumers, companies, and the government
equilibrium = (równowaga) - is a state of balance, for example, when supply meets demand
factors of production (or inputs) = (nakłady) - are resources used by firms in their production processes, namely land and the natural resources in it, labour, capital, and (in recent definitions) information
macroeconomics is the study and analysis of the economy as a whole
microeconomics concerns the economic factors affecting individual consumers and companies
Created by: spooko.hanka
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