Chapter 25 keywords 11EC

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Draggable item		Corresponding Item
Economic growth		an increase in the level of output / production of a nation
Downturn		Number of citizens working within the economy
Economic cycle		level of income, necessities, luxury, and other goods and services available to each citizen
microeconomics		individuals or households have insufficient income to afford the basics of life: food, shelter, heat, clothing
Recession		This shows the different stages of growth and contraction that an economy goes through over time
Poverty		Peak of the economic cycle where GDP grows fastest
National income		Period of temporary economic decline, trade reduced, GDP falls in 2 successive quarters
Employment		Period in economic cycle where GDP grows, slowly
Standards of living		Market value of all goods and services produced used to measure economic growth
Boom		Value of income, output or expenditure over time
macroeconomics		Study of large economic systems such as those of a whole country or area of the world
GDP		Study of small economic systems that are part of national or international systems