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Terminology of the economy

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Terminology of the economy

Define in your own words each of these terms.

NOTE: It is important that you follow this instruction to the letter. The purpose of the task is to know if you can define each concept by a clear and precise explanation. Imagine that you are going to explain each term to someone who knows nothing about economics; With this in mind, the explanation should be as clear and simple as possible.

Definitions taken literally from other sources will not be accepted and you will not get punctuation.

  • Economy
  • Microeconomics
  • Macroeconomics
  • Market
  • Offer
  • Demand
  • Price adjustment
  • Balance of the market
  • Economic growth
  • Human capital
  • Property rights
  • Opportunity cost
  • Production possibilities frontier
  • Goods and services
  • Pending

Reference no: EM131357532

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