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Hungarian-English Varsvári > 11.D Lesson - Economics > Flashcards

11.D Lesson - Economics Flashcards

1
Q

Agent

A

a representative who acts on behalf of others

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2
Q

Capacity

A

capability to perform or produce

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3
Q

Capitalism

A

an economic system based on private ownership of assets

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4
Q

Commodity

A

any good that can be bought and sold

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5
Q

Competition

A

the act of contending with others for rewards or resources

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6
Q

Compound interest

A

interest calculated on both the principal and the accrued interest

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7
Q

Consumption

A

the act of using something up

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8
Q

Credit

A

an estimate of ability to fulfill financial commitments

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9
Q

Debt

A

the state of owing something, especially money

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10
Q

Deficit

A

an amount that is less than expected or required

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11
Q

Demand

A

the quantity of a commodity or service wanted at a specified price and time

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12
Q

Depression

A

a reduction in activity, amount, quality, or force

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13
Q

Devaluation

A

the reduction of something’s worth

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14
Q

Diversification

A

the act or practice of spreading investments among a variety of securities or classes of securities

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15
Q

Econometrics

A

the application of mathematics and statistics to the study of economic and financial data

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16
Q

Efficiency

A

skillfulness in avoiding wasted time and effort

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17
Q

Equity

A

the money value of a property or of an interest in a property in excess of claims or liens against it

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18
Q

Fiscal policy

A

a government policy for dealing with the budget

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19
Q

Free trade

A

the exchange of goods without governmental interference

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20
Q

Full employment

A

the economic condition when everyone who wishes to work at the going wage rate for their type of labor is employed

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21
Q

GDP

A

the measure of an economy adopted by the United States in 1991; the total market values of goods and services produced by workers and capital within a nation’s borders during a given period (usually 1 year)

22
Q

Globalization

A

the development of an increasingly integrated global economy marked especially by free trade, free flow of capital, and the tapping of cheaper foreign labor markets

23
Q

Gold standard

A

system that defines money’s value in terms of precious metal

24
Q

Incentive

A

a positive motivational influence

25
Q

Income

A

the amount of money one makes over a period of time

26
Q

Inflation

A

a continuing rise in the general price level usually attributed to an increase in the volume of money and credit relative to available goods and services

27
Q

Interest rate

A

the percentage of a sum of money charged for its use

28
Q

Liquidity

A

capable of ready conversion into cash

29
Q

Macroeconomics

A

the branch of economics that studies the overall working of a national economy

30
Q

Microeconomics

A

the branch of economics that studies the economy of consumers or households or individual firms

31
Q

Minimum wage

A

the lowest salary that an employer is allowed to pay

32
Q

Monopoly

A

a market in which there are many buyers but only one seller

33
Q

National debt

A

the debt of the national government

34
Q

Opportunity cost

A

the benefits lost by choosing one option over another

35
Q

Poverty

A

the state of having little or no money and possessions

36
Q

Profit margin

A

the difference between the total cost of making and the price it is sold for

37
Q

Quota

A

a prescribed number

38
Q

Regulation

A

the act of bringing to uniformity

39
Q

Risk

A

a source of danger

40
Q

Scalability

A

the ability of a business to grow larger

41
Q

Scarcity

A

a small and inadequate amount

42
Q

Short-run

A

relating to or extending over a limited period

43
Q

Socialism

A

a political theory advocating state ownership of industry

44
Q

Stagnation

A

a state of inactivity

45
Q

Stakeholder

A

one who has an interest in something, especially a business

46
Q

Supply

A

the quantity or amount (as of a commodity) needed or available

47
Q

Tariff

A

a government tax on imports or exports

48
Q

Transparency

A

the quality of being clear

49
Q

Unemployment

A

the state of not having a job

50
Q

Volatility

A

the quality of being unpredictable and affected by emotion

51
Q

Welfare

A

something that aids or promotes well-being

Hungarian-English Varsvári (1 decks)

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