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      <title>Economics Vocab by Jay-vier January</title>
      <link>https://padlet.com/jayjan4225/khvx0ciatx7v</link>
      <description>Made with magic</description>
      <language>en-us</language>
      <pubDate>2018-10-19 12:57:09 UTC</pubDate>
      <lastBuildDate>2018-10-19 13:27:23 UTC</lastBuildDate>
      <webMaster>hello@padlet.com</webMaster>
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      <item>
         <title>Gross Domestic Product</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294795128</link>
         <description><![CDATA[<div>the total value of goods produced and services provided in a country during one year.</div>]]></description>
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         <pubDate>2018-10-19 13:01:22 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294795128</guid>
      </item>
      <item>
         <title>Scarcity</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294795697</link>
         <description><![CDATA[<div> the state of being scarce or in short supply; shortage. </div>]]></description>
         <enclosure url="http://marketbusinessnews.com/wp-content/uploads/2017/03/Scarcity.jpg" />
         <pubDate>2018-10-19 13:02:37 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294795697</guid>
      </item>
      <item>
         <title>Consumer Price Index</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294795718</link>
         <description><![CDATA[<div>an index of the variation in prices paid by typical consumers for retail goods and other items.</div>]]></description>
         <enclosure url="https://upload.wikimedia.org/wikipedia/commons/thumb/3/34/US_Consumer_Price_Index_Graph.svg/1920px-US_Consumer_Price_Index_Graph.svg.png" />
         <pubDate>2018-10-19 13:02:39 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294795718</guid>
      </item>
      <item>
         <title>Fiscal Policy</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294796151</link>
         <description><![CDATA[<div> is the use of government revenue collection and expenditure to influence the economy </div>]]></description>
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         <pubDate>2018-10-19 13:03:30 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294796151</guid>
      </item>
      <item>
         <title>Capital</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294796567</link>
         <description><![CDATA[<div> wealth in the form of money or other assets owned by a person or organization or available or contributed for a particular purpose such as starting a company or investing. </div>]]></description>
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         <pubDate>2018-10-19 13:04:21 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294796567</guid>
      </item>
      <item>
         <title>Monetary policy</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294796758</link>
         <description><![CDATA[<div>is the process by which the monetary authority of a country, typically the central bank or currency board</div>]]></description>
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         <pubDate>2018-10-19 13:04:42 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294796758</guid>
      </item>
      <item>
         <title>Business cycle</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294797557</link>
         <description><![CDATA[<div>a cycle or series of cycles of economic expansion and contraction.</div>]]></description>
         <enclosure url="http://welkerswikinomics.com/blog/wp-content/uploads/2008/01/businesscycle_1.jpeg" />
         <pubDate>2018-10-19 13:06:01 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294797557</guid>
      </item>
      <item>
         <title>Recession</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798348</link>
         <description><![CDATA[<div>a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters.</div>]]></description>
         <enclosure url="http://www.onlinedailys.com/wp-content/uploads/2017/02/economic-recession.png" />
         <pubDate>2018-10-19 13:07:41 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798348</guid>
      </item>
      <item>
         <title>Entrepreneur</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798631</link>
         <description><![CDATA[<div> a person who organizes and operates a business or businesses, taking on greater than normal financial risks in order to do so. </div>]]></description>
         <enclosure url="https://www.visioncritical.com/wp-content/uploads/2014/12/from-entrepreneur-to-cmo.jpg" />
         <pubDate>2018-10-19 13:08:16 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798631</guid>
      </item>
      <item>
         <title>Depression</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798678</link>
         <description><![CDATA[<div>a long and severe recession in an economy or market</div>]]></description>
         <enclosure url="https://www.princeton.edu/~pkrugman/money-depression.png" />
         <pubDate>2018-10-19 13:08:23 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798678</guid>
      </item>
      <item>
         <title>Land </title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798993</link>
         <description><![CDATA[<div> the part of the earth's surface that is not covered by water, as opposed to the sea or the air. </div>]]></description>
         <enclosure url="http://www.justrenttoown.com/blog/wp-content/uploads/2015/04/rawland.jpg" />
         <pubDate>2018-10-19 13:09:09 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294798993</guid>
      </item>
      <item>
         <title>Federal Reserve</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799298</link>
         <description><![CDATA[<div>is the central banking system of the United States of America</div>]]></description>
         <enclosure url="http://www.safesystems.com/wp-content/uploads/2013/12/Federal-Reserve-Seal-logo.png" />
         <pubDate>2018-10-19 13:09:58 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799298</guid>
      </item>
      <item>
         <title>Labor</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799396</link>
         <description><![CDATA[<div> work, especially hard physical work. </div>]]></description>
         <enclosure url="http://s.hswstatic.com/gif/labor-union-7.jpg" />
         <pubDate>2018-10-19 13:10:10 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799396</guid>
      </item>
      <item>
         <title>Traditional Economy</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799702</link>
         <description><![CDATA[<div> an original economic system in which traditions, customs, and beliefs help shape the goods and the services the economy produces, as well as the rules and manner of their distribution </div>]]></description>
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         <pubDate>2018-10-19 13:10:52 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799702</guid>
      </item>
      <item>
         <title>Sole proprietorship</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799863</link>
         <description><![CDATA[<div>is the simplest business form under which one can operate a business</div>]]></description>
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         <pubDate>2018-10-19 13:11:13 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294799863</guid>
      </item>
      <item>
         <title>Partnership</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800218</link>
         <description><![CDATA[<div>a business or firm owned and run by two or more partners</div>]]></description>
         <enclosure url="http://www.trainingmagazine.ae/wp-content/uploads/2014/07/partnership-handshake.jpg" />
         <pubDate>2018-10-19 13:11:56 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800218</guid>
      </item>
      <item>
         <title>Command Economy</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800309</link>
         <description><![CDATA[<div> an economy in which production, investment, prices, and incomes are determined centrally by a government. </div>]]></description>
         <enclosure url="http://marketbusinessnews.com/wp-content/uploads/2016/07/What-is-a-command-economy.jpg" />
         <pubDate>2018-10-19 13:12:06 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800309</guid>
      </item>
      <item>
         <title>Market Economy</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800533</link>
         <description><![CDATA[<div> a capitalistic economic system in which there is free competition and prices are determined by the interaction of supply and demand. </div>]]></description>
         <enclosure url="http://marketbusinessnews.com/wp-content/uploads/2015/08/Market-Economy.jpg" />
         <pubDate>2018-10-19 13:12:37 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800533</guid>
      </item>
      <item>
         <title>Corporation</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800633</link>
         <description><![CDATA[<div>a company or group of people authorized to act as a single entity and recognized as such in law</div>]]></description>
         <enclosure url="http://comps.canstockphoto.com/can-stock-photo_csp6212313.jpg" />
         <pubDate>2018-10-19 13:12:49 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294800633</guid>
      </item>
      <item>
         <title>Nonprofit organizations</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801088</link>
         <description><![CDATA[<div>is a group organized for purposes other than generating profit and in which no part of the organization's income is distributed to its members, directors, or officers.</div>]]></description>
         <enclosure url="http://www.marketingspot.com/wp-content/uploads/2009/09/non-profit.gif" />
         <pubDate>2018-10-19 13:13:46 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801088</guid>
      </item>
      <item>
         <title>Mixed Economy</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801404</link>
         <description><![CDATA[<div> an economic system combining private and public enterprise. </div>]]></description>
         <enclosure url="http://cdn.yourarticlelibrary.com/wp-content/uploads/2013/12/b877.jpg" />
         <pubDate>2018-10-19 13:14:27 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801404</guid>
      </item>
      <item>
         <title>Cooperatives</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801519</link>
         <description><![CDATA[<div>a farm, business, or other organization that is owned and run jointly by its members, who share the profits or benefits</div>]]></description>
         <enclosure url="https://coopseurope.coop/sites/default/files/Hands%20holding%20world.jpg" />
         <pubDate>2018-10-19 13:14:44 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801519</guid>
      </item>
      <item>
         <title>Banks</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801759</link>
         <description><![CDATA[<div> a financial establishment that invests money deposited by customers, pays it out when required, makes loans at interest, and exchanges currency</div>]]></description>
         <enclosure url="http://bitcoinist.net/wp-content/uploads/2015/11/bank-deposit-withdrawal-money.jpg" />
         <pubDate>2018-10-19 13:15:25 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294801759</guid>
      </item>
      <item>
         <title>Free Enterprise</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802223</link>
         <description><![CDATA[<div> an economic system in which private business operates in competition and largely free of state control. </div>]]></description>
         <enclosure url="https://i.ytimg.com/vi/xSMd4BuuXB8/hqdefault.jpg" />
         <pubDate>2018-10-19 13:16:31 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802223</guid>
      </item>
      <item>
         <title>Labor union</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802290</link>
         <description><![CDATA[<div>an organized association of workers, often in a trade or profession, formed to protect and further their rights and interests</div>]]></description>
         <enclosure url="https://pmcdeadline2.files.wordpress.com/2017/12/labor-unions.jpg" />
         <pubDate>2018-10-19 13:16:41 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802290</guid>
      </item>
      <item>
         <title>Wall Street</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802706</link>
         <description><![CDATA[<div>is a street in lower Manhattan that is the original home of the New York Stock Exchange and the historic headquarters of the largest U.S. brokerages and investment banks</div>]]></description>
         <enclosure url="http://business-ethics.com/wp-content/uploads/2010/12/Wall_Street_Sign.jpg" />
         <pubDate>2018-10-19 13:17:28 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802706</guid>
      </item>
      <item>
         <title>Circular Flow of Economic Activity</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802756</link>
         <description><![CDATA[<div> The flow of Goods, Services &amp; Resources. </div>]]></description>
         <enclosure url="http://2.bp.blogspot.com/_8-z-DJhoXIQ/TLz-kSNxynI/AAAAAAAADCw/2dWQIyqGUzI/s1600/CircularFlowEconomicActivity.png" />
         <pubDate>2018-10-19 13:17:34 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294802756</guid>
      </item>
      <item>
         <title>Competition</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803102</link>
         <description><![CDATA[<div> Rivalry in which every seller tries to get what other sellers are seeking at the same time: sales, profit, and market share by offering the best practicable combination of price, quality, and service. </div>]]></description>
         <enclosure url="http://statusmind.com/images/2013/08/Clever-Facebook-Status-20046.jpg" />
         <pubDate>2018-10-19 13:18:14 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803102</guid>
      </item>
      <item>
         <title>Inflation</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803191</link>
         <description><![CDATA[<div> a general increase in prices and fall in the purchasing value of money</div>]]></description>
         <enclosure url="https://blogs-images.forbes.com/learnvest/files/2014/09/lifestyle-inflation-1940x1440.jpg" />
         <pubDate>2018-10-19 13:18:25 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803191</guid>
      </item>
      <item>
         <title>Equilibrium Price</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803455</link>
         <description><![CDATA[<div>is the price where the demand for a product or a service is equal to the supply of the product or service.</div>]]></description>
         <enclosure url="http://mrkersey.org/images/equilibrium_price.gif" />
         <pubDate>2018-10-19 13:19:00 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803455</guid>
      </item>
      <item>
         <title>Profit motive</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803490</link>
         <description><![CDATA[<div> the motivation of firms that operate so as to maximize their profits.</div>]]></description>
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         <pubDate>2018-10-19 13:19:03 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803490</guid>
      </item>
      <item>
         <title>Interest rates</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803838</link>
         <description><![CDATA[<div>is the amount of interest due per period, as a proportion of the amount lent, deposited or borrowed.</div>]]></description>
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         <pubDate>2018-10-19 13:19:47 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294803838</guid>
      </item>
      <item>
         <title>Elasticity</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294804144</link>
         <description><![CDATA[<div>individuals, consumers or producers change their demand or the amount supplied in response to price or income changes.</div>]]></description>
         <enclosure url="http://3.bp.blogspot.com/-ZSwIO9NYBcE/UV66zbnRLPI/AAAAAAAAAEY/GjYFqEJaP8U/s1600/elasticity.png" />
         <pubDate>2018-10-19 13:20:23 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294804144</guid>
      </item>
      <item>
         <title>Supply</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294804351</link>
         <description><![CDATA[<div>&nbsp;a fundamental economic concept that describes the total amount of a specific good or service that is available to consumers.&nbsp;</div>]]></description>
         <enclosure url="http://www.missionmode.com/wp-content/uploads/2014/08/97430363.jpg" />
         <pubDate>2018-10-19 13:20:44 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294804351</guid>
      </item>
      <item>
         <title>Demand</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294805076</link>
         <description><![CDATA[<div>&nbsp;an economic principle referring to a consumer's desire and willingness to pay a price for a specific good or service.&nbsp;</div>]]></description>
         <enclosure url="http://4.bp.blogspot.com/-9ZxPDf5X4-M/ULaDReQIYoI/AAAAAAAAFSA/mrmrjhaQgdg/s1600/Supply-demand-economics.jpg" />
         <pubDate>2018-10-19 13:22:09 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294805076</guid>
      </item>
      <item>
         <title>Opportunity Cost</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294805552</link>
         <description><![CDATA[<div>&nbsp;a key concept in economics, and has been described as expressing "the basic relationship between scarcity and choice."&nbsp;</div>]]></description>
         <enclosure url="http://idkmen.com/wp-content/uploads/2015/07/opportunity-cost.jpg" />
         <pubDate>2018-10-19 13:23:02 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294805552</guid>
      </item>
      <item>
         <title>Monopoly</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294805861</link>
         <description><![CDATA[<div>&nbsp;A market structure characterized by a single seller, selling a unique product in the market</div>]]></description>
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         <pubDate>2018-10-19 13:23:33 UTC</pubDate>
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      <item>
         <title>Oligopoly</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294806364</link>
         <description><![CDATA[<div> a market that is dominated by only a few large firms. </div>]]></description>
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         <pubDate>2018-10-19 13:24:25 UTC</pubDate>
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         <title>Monopolistic competition</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294806831</link>
         <description><![CDATA[<div> a type of imperfect competition such that many producers sell products that are differentiated from one another and hence are not perfect substitutes</div>]]></description>
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         <pubDate>2018-10-19 13:25:09 UTC</pubDate>
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      <item>
         <title>Pure competition</title>
         <author>jayjan4225</author>
         <link>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294807504</link>
         <description><![CDATA[<div>is a term that describes a market that has a broad range of competitors who are selling the same products</div>]]></description>
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         <pubDate>2018-10-19 13:25:52 UTC</pubDate>
         <guid>https://padlet.com/jayjan4225/khvx0ciatx7v/wish/294807504</guid>
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