Economics Terms

Front

The rights of human beings to transfer possessions, including themselves.

Back

Property Rights

Front

The limit on the goods or services imported into a country.

Back

Quotas

Front

The situation where unlimited wants exceed the limited resources available.

Back

Scarcity

Front

A benefit given to a group of people or individuals by the government, usually in the form of cash or tax reductions.

Back

Subsidies

Front

The amount of goods or services that producers can sell at every price during a given period.

Back

Supply

Front

A tax on imported goods or services.

Back

Tariff

Front

A compulsory payment to the government by households and businesses.

Back

Taxes

Front

Both parties are expected to benefit from the trade of goods and services.

Back

Voluntary Trade

Front

An official ban by a government on any or all trade with a foreign government.

Back

Embargo

Front

The tendency of investment funds and businesses to move beyond domestic and national markets in a given economy in a given year.

Back

Globalization