EPF Unit 6 Vocabulary

People can access the education,

training, guidance, and connections required to successfully achieve economic security and independence.

• Economic Opportunities

• Economics indicators

• Economics

Work resulting from seasonal holidays

• Sesonal

• cyclical

• Frictional

• Structual

workers between jobs; typically, short term conditions

• Structural

• Frictional

• cyclical

• Seasonal

is the people who are actively looking for a job but cannot find one.

• Unemployment Rate

• Poverty

• Frictional

The stage of the economy's business cycle that marks the end of a period of declining business activity and the transition to expansion. The lowest point of the Business Cycle

• Expansion

• Trough

• Ressions/ Contraction

• Business Cycle

Changes in economy reduce the demand for workers and skills.

• Structural

• cycical

• Frictional

• Seasonal

First phase of the business cycle. Interest rates are normally lower, and production increases, and inflationary pressures build.

• Expansion

• Contraction

• Peak

direct related to swings in business cycle

• Cyclical

• Frictional

• Structural

The rate of increase in prices over a given period of time

• inflation

• deflation

• macroeconomics

refers to the ups and downs in an economy.

• Business Cycle

• Trough

• Circular Flow Diagram