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GED Economics vocab

Vocab, Missouri GED On-line, Social Studies: Economics

TermMeaning
consumer one who buys a product or service from someone else
credit money available to borrow with the promise of repayment
debit card a card that subtracts money directly from a checking account
demand what comsumers or businesses will buy of a particular good or service at a given price
export to sell goods produced in one's own country to those in another country
gross domestic product the value of a nation's production of goods and services during a particular year
import to bring one's own country goods from another country
inflation a period during which prices of many items rise sharply and continually
interest rate the amount of money a loan will cost, usually given in a percentage of the borrowed money that will be paid back every year
monopoly a business that is the only one providing a certain good or service
producer one who makes a product for others to buy
stock market a place where investors buy and sell shares of stock in major corporations
strike a work stoppage intended to force an employer to respond to workers' demands
supply what producers will provide of a particular good or service for sale at a given price
tariff a tax on imported goods
trust relating to economics, a combination of companies that are under one organization's control
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