Unemployment in My Hometown
Glossary terms from:
The industry involved with conducting financial transactions. Also, conducting business with a bank, e.g., maintaining a checking or savings account or obtaining a loan.
Monetary or non-monetary gain received because of an action taken or a decision made.
Any activity or organization that produces or exchanges goods or services for a profit.
People who use goods and services to satisfy their personal needs and not for resale or in the production of other goods and services.
Spending by households on goods and services. The process of buying and using goods and services.
Unemployment caused by fluctuations in the overall rate of economic activity or phase of the business cycle.
The quantity of a good or service that buyers are willing and able to buy at all possible prices during a period of time.
To invest in a variety of stocks, bonds, money market accounts, etc., in order to spread risk.
The process of improving the quality of human lives through raising living standards. Economic development is broader than economic growth, which is concerned with year-to-year increases in production. Economic development deals with the economic, social and political institutions that govern the way the economy and society function.
An increase in real output as measured by real GDP or per capita real GDP.
Economic units that demand productive resources from households and supply goods and services to households and government agencies.
Unemployment caused by the short-term movement of people between jobs and by first-time job seekers entering the labor force; always present in a dynamic economy.
A piece of work usually done on order at an agreed-upon rate. Also a paid position of regular employment.
The quantity and quality of human effort available to produce goods and services.
The people in a nation who are aged 16 or over and are employed or actively looking for work.
"Gifts of nature" that can be used to produce goods and services; for example, oceans, air, mineral deposits, virgin forests and actual fields of land. When investments are made to improve fields of land or other natural resources, those resources become, in part, capital resources. Also known as land.
A good or service that can be used to satisfy a want.
Property such as land, houses and office buildings.
A decline in the rate of national economic activity, usually measured by a decline in real GDP for at least two consecutive quarters (i.e., six months).
The basic kinds of resources used to produce goods and services: land or natural resources, human resources (including labor and entrepreneurship), and capital.
Use money now to buy goods and services.
The type of unemployment resulting from people's present abilities, skills, training and location not matching up with available job openings that reflect the basic structure of the economy.
The amount of a good or service that producers are willing and able to offer for sale at each possible price during a given period of time. Normally, as the price of a good or service rises (or falls), the quantity supplied of the good or service rises (or falls).
The number of people without jobs who are actively seeking work.
The number of unemployed people, expressed as a percentage of the labor force.
Effort applied to achieve a purpose or result, often for pay; skills and knowledge put to use to get something done; employment at a job or in a position; occupation, profession, business, trade, craft, etc.
People employed to do work, producing goods and services.