a decrease in the general price level of goods and services.

a business cycle contraction when there is a general decline in economic activity.

a measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs.

an economic system in which private individuals or businesses own capital goods.

a business entity that has significant market power, that is, the power to charge overly high prices.

people or organizations that purchase products or services.

a tax or duty imposed by one nation on the imported goods or services of another nation.

______ are something essential to survive and _____ are something which we would like but do not need to survive.

_______ are any good or service brought in from one country to another, while _______ are goods and services produced in the home country for sale to other markets.

______ is the amount of a good at a given price that can be provided to the market, while ______ is the amount of a good at a given price that is desired by buyers in the market.

the current price at which an asset or service can be bought or sold.

the basic facilities, structures and services upon which the rest of a business is built.

a restriction that the government imposes on imports. In other words, an import limit.

the value of a country's currency vs. that of another country or economic zone.

percentage of total workforce who are unemployed and are looking for a paid job.

the basic concepts and fundamental principles of decent human conduct.

the obligation of an organization's management towards the welfare and interests of the society in which it operates.

protects published or unpublished original work.