Economics 1
The increase in value of an asset or currency
Appreciate
The management/organization of money and assets
Finance
Excess of supply over demand
Surplus
Allocating money with the expectation of a future financial return
Entrepreneur
Receiving money or goods with the intent to pay back later; usually with interest
Credit
The amount of assets or resources available to produce goods or services
Capital
The monetary charge of borrowing money
Interest
Value of the next best alternative when a choice is made
Opportunity Cost
Increase in general price of goods and services
Inflation
A study of economics that deals with individuals and businesses
Microeconomics
Owing money or goods to someone
Debt
Economic System in which the government controls production and distribution
Command Economy
One lump sum of money borrowed with the intent to be paid back with interest
Loan
One business controlling the market
Monopoly
A mild period of economic decline
Recession
A few companies controlling the market
Oligopoly
Desire or willingness to buy a good or service
Demand
Economic System in which all property and wealth is communally owned
Communism
A study of economics that deals with governments, nations, and the world economy
Macroeconomics
Amount of goods and services available for acquisition
Supply
Goods and resources being lower than the demand
Scarcity
Business owned by two or more individuals
Partnership
Severe or prolonged economic downturn
Depression
Cooperation