Economics Key Terms Fill-in

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Economic terms practice

Judit Mészáros

Hungary

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Fill in the Blanks Economics Key Terms Fill-inOnline version Economic terms practice by Judit Mészáros 1 When prices rise and money buys less , we call it . When prices fall across the economy , it ? s known as . The total market value of goods and services produced in a year is the . A fall in GDP for two consecutive quarters is called a . refers to how much of a product companies are willing to sell . refers to how much of a product people want to buy . Higher prices often reduce consumers ? power . The rate is the cost of borrowing or the reward for saving . measures how efficiently resources are used to create goods . The rate shows how many people are out of work . Governments use policy to manage taxation and public spending . Central banks use monetary to control inflation and interest rates . The rate shows how one currency compares to another . 14 . When consumer is high , people are more likely to spend money .