-Economic activity: The different processes involved in the production and consumption of goods and services.
-Economic agent: A person, group or institution involved in the economy.
-Goods: Tangible economic proudcts, such as food, that are usually consumed after production.
-Services: Economic activities, such as banking or education, that are intangible.
-Production: An activity that provides goods and services for consumption. The production of goods combines natural resources, skills, financial investment and labour.
-Distribution: The use of a product or service to satisfy needs or desires.
-Marketing: The act of researching, promoting and advertising a product or service in order to sell it.
-Consumption: A business that producess or markets the goods and services that reach the market.
-Supply: Availability of something for use or sale.
-Demand: The desire to own something in the market and the willingness to pay for it.
-Inflation: A rise in the general level of prices of goods and services in the economy or a decrease in value of the purchasing power of money.
-Profit: The monetary gain of a bussiness after all expenses have been met.
-Tax: A monetary contribution to the government required of people, groups, or businesses.
-Raw material: Is the basic material from which goods, finished products, or intermediate materials are manufactured or made.
-Employer: A person or a business that employs workers.
-Employee: An individual who works part-time or full-time under a contract of employment.
-Active population: It refers to all the people who can work.
-Inactive population: It refers to all the people who can't work.