⚙️Production

The process of combining inputs to create goods and services.

⚙️Productivity

The output produced per unit of input in an economy.

💰Profit

The financial gain when revenue exceeds costs in a business.

🏛️Public Good

A good that is non-excludable and non-rivalrous in consumption.

💪Purchasing Power

The amount of goods and services money can buy.

📉Recession

A significant decline in economic activity lasting more than a few months.

💵Revenue

The total income generated from sales of goods or services.

🐖Savings

Income not spent on consumption, set aside for future use.

⏳Scarcity

The fundamental economic problem of limited resources against unlimited wants.

📊Share

A unit of ownership in a corporation.

😵Stagflation

A combination of high inflation and stagnant economic growth.

🏠Standard of Living

The level of wealth, comfort, and material goods available to a group.

📈Stock Market

A market where shares of publicly traded companies are bought and sold.

💸Subsidy

A government payment to support a specific industry or reduce costs.

📦Supply

The quantity of a good or service producers are willing to offer at various prices.

🔺Surplus

The excess when revenue exceeds spending in a given period.

🛃Tariff

A tax imposed on imported goods to protect domestic industries.

🧾Taxation

The compulsory levying of charges by a government on income or goods.

🚢Trade

The exchange of goods and services between individuals or countries.

🐄Tragedy of the Commons

The depletion of shared resources by individuals acting in self-interest.

🧑‍💼Unemployment

The situation of people who are willing and able to work but lack jobs.

😊Utility

The satisfaction or benefit derived from consuming a good or service.

💎Wealth Distribution

How total assets are shared among members of a society.