Chapter 2 Economic Activity Vocab. Review

A general decline in prices in an economy.

The activities involved in buying and selling goods on a large scale.

A period when the economy is growing and the GDP is rising is referred to as.

Promotes fair trade and competition among businesses.

A certificate of debt issued by an organization or government.

A general decline in prices throughout an economy.

GDP stands for

Represents the cost of a loan and is expressed as a percent of the amount borrowed.

The total money circulating at any one time in a country.

The four components of GDP are consumer spending, business investment, government spending, and ____.