Business E Chapter 2 Word Scramble
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| Term | Definition |
| Gross Domestic Product | the total value of all final goods and services produced in a country during one year |
| GDP per capita | output per person |
| unemployment rate | the portion of people in the labor force who are not working |
| productivity | is the production output in relation to a unit of input |
| personal income | salaries and wages as well as investment income and government payments |
| retail sales | sales of durable and nondurable goods bought by consumers |
| business cycle | movement of the economy from one condition to another and back again |
| prosperity | a period when most people who want to work are working |
| recession | a period when demand begins to increase, businesses lower production , unemployment begins to rise and GDP growth slows for two or more quarters of the calendar year |
| depression | a long period of high unemployment, weak consumer sales, and business failure. |
| recovery | the phase when unemployment begins to decrease, demand for goods and services increase and GDP begins to rise again |
| inflation | is an increase in the general level of prices |
| price index | a number that compares prices in one year with prices in some earlier basis year |
| deflation | a decrease in the general level of prices |
| capital projects | spending by businesses for items such as land, buildings equipment and new product development |
| stock | a representation of ownership in a corporation |
| bond | a certificate representing a promise to pay a definite amount of money at a stated interest rate |
| budget surplus | when the government spends less than it takes in |
| budget deficit | when the government spends more than it takes in |
| national debt | the total amount owed by the federal government |
Created by:
Mrs. Ann Kidwell
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