Chapter 2 Economic Activity Vocab. Review

A general decline in prices in an economy.

• Inflation

• Deflation

• Stagnation

• Recession

The activities involved in buying and selling goods on a large scale.

• Commerce

• Trade

• Retail

• Barter

A period when the economy is growing and the GDP is rising is referred to as.

• Recession

• Stagnation

• Expansion

• Depression

Promotes fair trade and competition among businesses.

• Antitrust laws

• Trade regulations

• Market stabilization policies

• Consumer protection laws

A certificate of debt issued by an organization or government.

• Stock

• Bond

• Equity

• Note

A general decline in prices throughout an economy.

• Inflation

• Deflation

• Stagnation

• Recession

GDP stands for

• Gross Domestic Product

• General Data Protection

• Global Development Plan

• Gross Domestic Price

Represents the cost of a loan and is expressed as a percent of the amount borrowed.

• Principal Amount

• Loan Term

• Interest Rate

• Collateral

The total money circulating at any one time in a country.

• Money supply

• Currency flow

• Economic liquidity

• Financial circulation

The four components of GDP are consumer spending, business investment, government spending, and ____.

• Net exports

• Foreign investments

• Private savings

• Trade deficits