Market Economy
An economic system in which production and prices are determined by unrestricted competition between privately owned businesses
What is market economy
an economic system combining private and publicly owned businesses
What is mixed economy
the percentage of the workforce that does not have jobs
What is unemployment rate
The protection or promotion of the interests of consumers
What is consumerism
A refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer.
What is Labour Union
in economics the part of the economy owned and controlled by government and paid for by taxes
What is publicly owned
produced goods that are in turn used as productive inputs for further production
What is capital
Provides regular benefits to individuals who lose their jobs through no fault of their own
What is Employment insurance
The state of being scarce or in short supply
What is scarcity
What is Collective bargaining
An economic system in which the elements of an economy are subject to government control
What is planned economy
Is owned and regulated by the government
What is privately owned
Can be defined as a sustained period of weak or negative growth
What is economic recession
A person or a group who intends to order or uses purchased goods or services
Who are consumers
A refusal to work organized by a body of employees as a form of protest, typically in an attempt to gain a concession or concessions from their employer.
What is a Strike
Increase in prices over a given period of time
What is Inflation
the exclusive possession or control of the supply of or trade in a commodity or service
What is monopoly
The activity or condition of competing
What is competition
The amount of commodity, product or service available and the desire of buyers for it considered as factors regulating its price.
What is supply and demand