Rights are freedoms we have that are protected by our laws
GDP
Gross domestic product, a measure of economic activity in a country. It is calculated by adding the total value of a country's annual output of goods and services.
Responsibilities
Economic responsibilities are the most basic social responsibilities of business. These include providing goods and services to society at a reasonable cost, providing jobs & paying tax.
Public Sector
Companies and corporations that are government run are part of what is known as the public sector
Private Sector
The private sector is the part of the economy that is run by individuals and companies for profit and is not state controlled
Business Cycle
The long-run pattern of economic growth and recession.
Barter
Paying for goods or services with other goods or services, instead of with money.
Demand
Demand refers to the amount of a good or service that people are both willing and able to buy.
Supply
Supply is the amount of a good or service available at any particular price.
