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an economy where decisions and activities of consumers impact on business

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AKA the Feds, central bank that provides the country with safe, flexible, and stable finical system.

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The people that work for an organization, industry, business, or economy. Can also be used to describe the Human Resources Department, which manages the workers

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national debt is the total amount of money a country's government owes to its creditors, creditors could be within the country or outside the country.

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The total value of goods produced and services provided in a country in a period of time(year, etc)

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The use of taxes and government spending that affects the economy.

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Opportunity Cost: A sacrifice where a change/decision makes a way where  there's a more profitable outcome

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When expenses exceed income (i.e., tax and other borrowed money), a budget deficit arises, which is normally calculated over a single financial year. Budget deficits are most commonly associated with governments, although they may also occur in organizations, corporations, and people.

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Economics is a social science concerned with the production, distribution, and consumption of goods and services. It studies on how individuals, businesses, government, and nations make choices about how to allocate resources.

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Monetary Policy- The nations control over borrowing money and the interest rate payable for the short term when borrowing that money.

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the demand for a good or service is greater than the availability of the good or service.

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Depression:
a major economic downturn or a period of long-term downturn in business activity in one or many economies
Several examples include high unemployment rates, poverty, bankruptcy, etc.

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How much consumers want to buy a product, and how much they are willing to pay for said product. For example, when price increases, demand to buy the product usually decreases (and vice versa).

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Supply quantifies the amount of goods that are avaliable to consumers.

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Equilibrium: A state in market-based economies where things like supply and demand are balanced.

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Command Economy - An economic system where the government dictates and controls production, investments, and the prices of goods

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The number of unemployed people as a percentage of the labor force

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A period of economic decline when trade is reduced (fall in the GDP--market value of goods and services)

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My definition: The average price of what soemthing is being sold for in stores or online.
Definition: the current price at which an asset or service can be bought or sold.

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Consumer - Someone who buys things or services for their own personal use.

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Inflation- when the price of goods and services increase overtime and the purchasing value of currency decreases