Home > Blossary: Basic Economy
It serves those who have just studied economy because it includes basic terms that they need to know and understand the economy world. It is really useful.

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32 Terms

Created by: Fatima

Number of Blossarys: 1

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The act of supplying a desired output.

Domain: Economy; Category: Economics

The assets which an economy may have available to supply and produce goods and services to meet the ever-changing needs and wants of individuals and society.

Domain: Economy; Category: Economics

The consumption and savings opportunity gained by an entity within a specified time frame, which is generally expressed in monetary terms.

Domain: Economy; Category: Economics

It maintains the value of the coinage, print notes which would trade at par to specie, and prevent coins from leaving circulation.

Domain: Economy; Category: Economics

The use of government taxing and spending powers to affect the behaviour of the economy.

Domain: Economy; Category: Economics

Systematic approach to determining the optimum use of scarce resources, involving comparison of two or more alternatives in achieving a specific objective under the given assumptions and constraints.

Domain: Economy; Category: Economics

A pervasive condition of human existence that exists because society has unlimited wants and needs, but limited resources used for their satisfaction.

Domain: Economy; Category: Economics

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