Government & Our Economy Vocab

the wealth and resources of a country or region, especially in terms of the production and consumption of goods and services.

• Currency

• Economy

• Fiscal

• Market

a system of money in general use in a particular country.

• Currency

• Credit

• Dollar

• Euro

the area of economic activity in which buyers and sellers come together and the forces of supply and demand affect prices.

• Currency

• GDP

• Fiscal

• Market

something, typically money, that is owed or due.

• Currency

• Debt

• Credit

• Wage

Money that a bank or business will allow a person to borrow and then pay back in the future

• Consumer

• Credit

• Interest

• Inflation

Goods and services bought from sellers in another nation

• Imports

• Exports

• Deflation

• Inflation

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

• Imports

• Exports

• Deflation

• Inflation

A person who buys good and services

• Consumer

• Credit

• Federal Reserve

• Inflation

government's main bank that sets national monetary policy, supervises other banks, and helps maintains financial stability.

• Federal Embassy

• Economic Branch

• Federal Reserve

• GDP

Decrease in the amount of available money or credit in an economy that causes prices to go down

• Inflation

• Deflation

• Mutation

• Adaptation