Tariff, A tax that is paid on goods coming into or going out of a country, Economics, The social science that deals with the production, distribution, and consumption of goods and services and with theory and management of economics, Reserve requirement, Minimum amount of cash that banks and other depositary instituations are required to keep on hand, and which may not be used for lending or investing, Tax avoidance, Reducing the amount of tax you pay to legal minimum , Production, The creation of manufacture for sale of goods and services with exchange value, Commision, An amount of money that is paid for somebody for selling goods and that increases with the amount of goods that are sold, Tax shelter, A way of using or investing money that you an legally, Public finance, The study of how the government sector pays for expenditures through taxes borrowing, Mixed economy , An economic ecosystem in which some goods and services are produced by the government and some by private enterprise, Recession, A difficult time for the economy of a country, when there is less trade and industrial activity than usual and more people are unemployed, GDP, The total of value of goods and services produced by a country in one year, Infrastructure, The basic systems and services that are necessary for a country or an organization to run smoothly, for example buildings, transport and water and power supplies, Quantity Supplied, The quantity of goods and services that sellers are willing and able to sell at a certain price in a period of time, Equilibrium, The economic condition in which there is neither excess demand nor excess supply in market, A planned economy, An economic system on which production and consumption quotas are fixed by the government, Inflation, A steady rise in the level of prices related to an increased volume of money and credit and resulting in a loss of value currency, Macroeconomics, The study of the overall economic trends, such as balance of payment, economics growth, inflation and so on, Depreciation, A decrease in value of assets over a period time.
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