Business cycle

Business cycle is the pattern of the business activity of a nation's economy. Such activity... More >>

Consumer Price Index

Consumer Price Index is a measurement of changes in the prices of goods and services bought by... More >>

Cost of living

Cost of living is the amount of money needed to buy a standard amount of consumer goods and... More >>

Deflation

Deflation is a decline in the general level of prices in an economy. It is the opposite of... More >>

Homelessness

Homelessness is a term that describes the condition of people who have no permanent place to... More >>

Hunger

Hunger is an unpleasant feeling caused by the body's need for food. Hunger is associated with... More >>

Poverty

Poverty is the lack of enough income and resources to live adequately by community standards.... More >>

Price

Price is the amount of money for which something can be bought or sold. The price states the... More >>

Price control

Price control is a method used by a government to influence prices for the benefit of producers... More >>

Rationing

Rationing, RASH uh nihng or RAY shuh nihng, is a system used by a government to distribute scarce... More >>

Recession

Recession is a decline in overall business activity. During a nationwide recession, a country... More >>

Standard of living

Standard of living usually refers to the economic level achieved by an individual, family, or... More >>

Subsidy

Subsidy, SUHB suh dee, is a money payment or other form of aid that the government gives to a... More >>

Supply and demand

Supply and demand are economic forces that determine the amount of a product that is produced and... More >>

Third World

Third World is a name sometimes given to economically developing countries, particularly those in... More >>