Economy & Marketing Terms

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Last updated 11:54 PM on 8/27/26
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10 Terms

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Inflation

A general increase in prices over time, reducing the purchasing power of money.

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Deflation

A general decrease in prices over time.

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GDP

The total value of goods and services produced within an economy over a period.

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Recession

A significant decline in economic activity.

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Economic growth

An increase in the production of goods and services in an economy.

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Supply

How much of a product or service is available.

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Demand

How much consumers want to buy.

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Interest rate

The cost of borrowing money or reward for saving/lending it.

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Central bank

An institution responsible for monetary policy and other functions for a country's financial system.

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Monetary policy

Actions taken by a central bank to influence interest rates, money supply, and economic activity.