Economics General Terms 경제학 일반용어 영영풀이

[Economics General Terms 경제학 일반용어 영영풀이]

 

need

noun : something one must have

tax

noun : a fee collected by a government to pay for the things it does

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afford

verb : to have enough money or time

amount

noun : a number or quantity of things

bet

verb : to risk something, usually a sum of money, on what one thinks will happen in the future

billboard

noun : a large, outdoor sign used for advertising

boom

noun : a period of time when business is good

boycott

noun : a refusal to buy or take part in something in order to make a point or force a change

business

noun : the buying and selling of goods; a person's occupation or company

cheat

verb : to take or keep away something that someone deserves or expects, usually by being dishonest or unlawful

claim

verb : to say that something is one’s right or property

class

noun : a large group of people defined by the people's economic or social status

competition

noun : a rivalry between businesses, teams, or individuals for something desired

consume

verb : to eat, buy, or use

consumer

noun : one who buys or rents goods or services and uses them

contract

noun : a formal or legal, written agreement between two or more people

corporation

noun : a business organization with specific business powers, duties, and responsibilties

corruption

noun : a lack of honesty by those in power

deal

noun : an agreement made between two or more parties; a bargain

deed

noun : a signed document that contains the terms of an agreement, usually to do with property

deficit

noun : a shortage of something, especially money

demand

noun : the need or desire for a good or service among people who can pay for it

democracy

noun : a form of government that is run by the people through free and frequent elections

destitute

adjective : without food, clothing, or shelter

distribution

noun : the sharing or delivery of goods and services to people or stores

double

verb : to become or cause to become twice as big in size or number

economic

adjective : related to buying and selling of goods and services

economics

noun : the science or study of how goods and services are made, sold, and used

economy

noun : the circulation of money in industry, trade, and finance in a country or area

exceed

verb : to go beyond

export

verb : to sell and send goods to another country or state

export

noun : a product that is sent or sold from one country or region to another

factory

noun : a building where goods are made mainly by machines

financial

adjective : of or relating to matters dealing with money

for-profit

adjective : set up to make money

frugal

adjective : avoiding waste, usually with regard to money or food

fund

noun : a savings account of an organization that raises money from events or activities to use for a certain purpose

household

noun : a group of people who live together and share economic resources

industrial

adjective : having to do with the creation of goods, especially using machines, automation, and technology

invoice

noun : a list of charges for goods or services; a bill

landlord

noun : a person who rents land, an apartment, or a building to a tenant

lease

verb : to make regular payments for the use of something for a period of time; to rent

loss

noun : the amount of money lost when costs are more than earnings

meager

adjective : low; too little to be worth much

monopoly

noun : a situation in which a single person or company controls all the means of creating or selling a certain type of product

New Deal

noun : a group of laws and policies put in place by President Franklin D. Roosevelt to help end the Great Depression

Nobel Prize

noun : one of six prizes awarded each year for work in chemistry, economics, literature, medicine, or physics, or for advancing the cause of world peace

organization

noun : a group or a system acting for a single purpose

partnership

noun : a helpful relationship formed between people who work together for a common goal

plentiful

adjective : in great quantities

policy

noun : the planned course of action or guiding principle of a government, business, or organization

population

noun : all the members of one species in a particular area

producer

noun : a person or business that uses resources to make goods and services

profit

noun : the money earned from a business or investment after all costs are paid

prosperity

noun : success or good fortune

raise

verb : to get or collect, usually a sum of money

rationing

noun : the controlled portioning and distribution of goods and services during periods of short supply

rations

noun : the daily allowance of something allowed during a time of shortage, such as during a war

risky

adjective : in danger of injury, damage, or loss occurring

scarcity

noun : an economic condition that exists when demand is greater than supply

scrimp

verb : to use or spend carefully; to be frugal

secondhand

adjective : not new; having been owned by someone else

ship

verb : to transport goods, especially by a large boat

shopper

noun : a person who goes to stores or websites looking for things to buy

shopping

noun : the activity of visiting shops to look at and buy things

shortage

noun : a lack of something necessary

shrewd

adjective : having a clever mind; able to make good decisions quickly

speculation

noun : guesses based on ideas and theories that are not proven

steady

adjective : happening in a continuous manner without stopping; showing little change over time

supply

noun : the amount of something available for sale or use

surplus

noun : an amount left over after needs have been met

tariff

noun : a tax on imports or exports

tenant

noun : a person who rents land, an apartment, or a building from a landlord

thrifty

adjective : being careful in how one spends money and other resources

tourism

noun : the business of providing services for people who travel for pleasure

trade

verb : to exchange one thing for another

treasurer

noun : a person chosen to manage the money or other financial dealings of a club, organization, or company

venture

noun : a risky project or undertaking

wealthy

adjective : having a large amount of money or possessions

welfare

noun : help given in the form of money or care, especially by the government, to help poor or disadvantaged people

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benefactor

noun : a person who gives help, usually in the form of money

business plan

noun : an outline for how to start a business

capital

noun : money or property used to start or run a business

capital resources

noun : assets that are used repeatedly in a business, such as buildings, machinery, and equipment

capitalism

noun : an economic system in which the means of production are controlled by companies or individuals rather than the government

cartel

noun : a group of businesses that work together to control production, competition, and prices

command economic system

noun : an economic system in which decisions about production and distribution are made by a central authority, usually the government

deflation

noun : a fall in the price of goods and services, and a corresponding increase in the purchasing power of money

depression

noun : a long or severe slowing down or failing of the economy

division of labor

noun : the breaking down of work into tasks done by different groups of people

economic growth

noun : producing more goods and services at the present time than in the past

embargo

noun : a law prohibiting trade of some or all goods with a foreign nation

entrepreneur

noun : a person who starts and operates his or her own business

entrepreneurial

adjective : of or relating to a person who takes on the risk of creating or managing a business

fascism

noun : a form of government where power is held by the government and the military

feudalism

noun : a system of government in the European Middle Ages that included some people who owned land and others who worked the land and had duties to the landowner

free market

noun : an economic market where individuals and businesses freely compete for customers

Great Depression

noun : an economic crisis in the United States that started in 1929 and lasted through the 1930s

ideology

noun : a set of beliefs at the basis of a political, social, or economic system

Industrial Revolution

noun : a shift in manufacturing and transportation from human and animal power to machine power (1750-1850)

inflation

noun : a general rise in the price level of goods and services

interdependence

noun : a state of two or more people or things depending on each other

labor contractor

noun : a farm boss in charge of hiring and paying workers

limited resources

noun : resources that do not exist in sufficient amounts to produce all the goods and services that people want

lower class

noun : a group of people who are considered poor and disadvantaged

lucrative

adjective : earning a lot of money

market economy

noun : an economy in which the price of goods is determined by supply and demand

materialism

noun : a tendency to place a high value on money and the goods that money can buy

mercantilism

noun : an early economic system which supported the establishment of colonies that would supply materials and markets to relieve the home nation of dependence on other nations

merger

noun : the combining of two companies into one

middle class

noun : a group of people who are considered neither rich nor poor, but who have an average income and culture

mission statement

noun : a sentence or paragraph that outlines the goals of a company or organization

national debt

noun : the total amount of money a country owes

nonrenewable resource

noun : a supply of something that cannot be replaced after it has been used, such as petroleum and minerals

population growth

noun : the increase in the number of people living in a place due to immigration, births, or other factors

recession

noun : a slowdown in a country's economic production lasting six months or longer

renewable resource

noun : a supply of something that can be replaced or that is not depleted by use

revenue

noun : money received from the sale of an investment, goods, or services

social justice

noun : the state or principle of equal economic, political, and social rights and opportunities for every human being

socialism

noun : a political and economic system in which the means of production and distribution are owned and regulated by the community as a whole

specialization

noun : the act of producing a narrow range of goods or services that meet only a selection of the wants and needs of a community

totalitarianism

noun : a political system where the government has absolute power over a country's people and economy

upper class

noun : a group of people who are or are considered to be wealthy and privileged

working class

noun : a group of people who do manual work for wages, such as factory workers and miners