Economics and Trade

• inflation Definition: The rate at which the general level of prices for goods and services rises.
  Example: Inflation has been rising steadily over the past year.
• recession Definition: A period of temporary economic decline during which trade and industrial activity are reduced.
  Example: Many businesses closed during the recession.
• economy Definition: The wealth and resources of a region, especially in terms of production and consumption.
  Example: A strong economy benefits everyone in the society.
• tariff Definition: A tax imposed on imported or exported goods.
  Example: The government raised tariffs on foreign cars.
• subsidy Definition: A sum of money granted by the government to assist an industry or business.
  Example: Farmers received subsidies to boost production.
• currency Definition: The system of money in general use in a particular country.
  Example: The local currency has devalued significantly.
• export Definition: To send goods or services to another country for sale.
  Example: The company exports electronics to over 50 countries.
• import Definition: To bring goods or services into a country from abroad for sale.
  Example: The country imports a large portion of its oil.
• investment Definition: The action or process of investing money for profit.
  Example: Real estate is often seen as a good investment.
• industry Definition: Economic activity concerned with the processing of raw materials and manufacturing of goods.
  Example: The steel industry is vital for the country’s economy.
• trade Definition: The action of buying and selling goods and services.
  Example: International trade has expanded significantly.
• taxation Definition: The system of levying taxes on individuals or businesses.
  Example: Taxation policies were revised to encourage investment.
• unemployment Definition: The state of being without a job despite actively seeking work.
  Example: The unemployment rate has dropped to historic lows.
• budget Definition: An estimate of income and expenditure for a set period.
  Example: The company exceeded its annual budget this year.
• stock Definition: Shares representing a portion of ownership in a company.
  Example: The stock market saw a significant increase today.
• income Definition: Money received, especially on a regular basis, for work or investments.
  Example: His primary source of income is his small business.
• debt Definition: Money that is owed or due.
  Example: The company is struggling to pay off its debt.
• expenditure Definition: The action of spending funds.
  Example: The government reduced public expenditure to balance the budget.
• deficit Definition: The amount by which something, especially money, is too small.
  Example: The country is facing a trade deficit this year.
• surplus Definition: An amount of something left over when requirements are met.
  Example: The company reported a significant surplus in revenue.
• gross domestic product (GDP) Definition: The total value of goods produced and services provided in a country during one year.
  Example: The GDP growth rate has slowed this quarter.
• poverty Definition: The state of being extremely poor.
  Example: The program aims to alleviate poverty in rural areas.
• prosperity Definition: The state of being prosperous or successful.
  Example: Economic policies were introduced to promote prosperity.
• commerce Definition: The activity of buying and selling, especially on a large scale.
  Example: Digital commerce is growing rapidly across the globe.
• capital Definition: Wealth in the form of money or assets owned by a person or organization.
  Example: The company secured enough capital to launch the new project.