Economics Vocabulary #3

Front

Circular Flow

Back

the pattern in which goods and services and resources flow in the marketplace

Front

Investment

Back

the action or process of placing money into businesses for profit

Front

Public Goods

Back

a good or service that is provided without profit to all members of a society by the government

Front

Contract

Back

an agreement between two or more parties that is enforceable in court

Front

Competition

Back

the struggle among producers for the dollars of consumers

Front

Global Trade

Back

the exchange of goods or services between individuals, organizations, or governments of different nations

Front

Imports

Back

goods and services purchased from other countries

Front

Exports

Back

goods and services sold to other countries

Front

Inflation

Back

an increase in prices with the value of money staying the same

Front

Monopoly

Back

complete control of a type of good or service by one person or group