Which twelve terms in the box are defined in the sentences below?

Date: 2015-10-07; view: 480.

Basic Economic Terms 1

aggregate supply cost of living economize free enterprise

inputs protectionism balance of payments economic

economy fluctuate market scarcity

capital economical fiscal inflation

monetarism standard of living

1.Adjective meaning of or relating to an economy or economics.

2Adjective meaning related to public (i.e. government) finances (taxation, expenditure, etc.).

3..Adjective meaning using a minimum of resources; or cheap.

4.A rise in the general level of prices, and an increase in the money supply.

5.A shortage of something; insufficient supply to meet demand.

6.The accumulated stock of goods used for the production of further goods (and the money required to purchase them).

7.A measure of the amount of money that has to be paid for essentials such as food, accommodation, heating, clothing, etc.

8.A measure of the amount of disposable income that people have to spend on both necessities and luxuries.

9.The difference between what a country pays for its imports and receives for its exports.

10.The practice of restricting imports in order to increase the sales of domestic products.

11.To change constantly, to show irregular variation.

12.To save money, to reduce expenses, to reduce an amount normally used.

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