Economics Vocabulary

money earned by selling goods and services and by collecting taxes

• market

• profit

• revenue

• competition

general increase in prices

• recession

• revenue

• profit

• inflation

good or service produced within a country and sold outside the country’s borders

• export

• import

• trade

• market

something that keeps goods and services from entering a country

• budget

• free trade

• trade barrier

• tariff

setting aside money for future use

• saving

• credit

• investing

• tariff

act of using money in the hopes of making a future profit

• saving

• stock

• interest

• investing

organized way for producers and consumers to trade goods and services

• profit

• market

• trade barrier

• economics

act of concentrating on a limited number of goods or activities

• competition

• recession

• specialization

• inflation

exchange of goods and services in a market

• export

• trade

• import

• profit

removal of trade barriers

• tariff

• free trade

• inflation

• recession