Government & Our Economy Vocab

Front

Wealth and resources of a country, focusing on production and consumption of goods and services.

Back

Economy

Front

System of money in a country.

Back

Currency

Front

Area of economic activity where buyers and sellers interact, influenced by supply and demand.

Back

Market

Front

Something owed or due, typically money.

Back

Debt

Front

Money a bank or business allows a person to borrow and repay later

Back

Credit

Front

Goods and services bought from foreign sellers

Back

Imports

Front

Goods or services produced in one nation but sold to buyers in another

Back

Exports

Front

A person who buys goods and services

Back

Consumer

Front

Govt's main bank that sets monetary policy, supervises banks, and maintains financial stability.

Back

Federal Reserve

Front

Decrease in available money or credit causing prices to drop

Back

Deflation