Economic Terms

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Interest Rates

Back

The extra money you pay when you borrow money, or the extra money you earn when you save money in a bank. Usually shown as a percentage.

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Inflation

Back

When the prices of goods and services go up over time, making things more expensive than they used to be.

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Economy

Back

The system of how money, goods, and services are produced, bought, and sold in a country or region.

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Initiatives

Back

New plans or programs that are started to solve problems or improve situations.

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Recession

Back

A period when the economy slows down, businesses struggle, and many people lose their jobs.

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Pandemic

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A disease that spreads quickly across many countries around the world, affecting millions of people.

Front

Unemployment Rate

Back

The percentage of people who want to work but cannot find jobs.