Classified in Economy

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Balance of Payments:

·Visible And invisible trade

·Current Account import more than export

·Surplus Exports more than imports


·Cyclical: Goes with the economic cycle (boom, downturn, recession, recovery)

·Frictional: Those who are between jobs

·Voluntary: Those who don’t want to work and are happy with benefits of the economy

·Seasonal: Jobs that are only done at certain times of the year

·Structural: Those who are out of work because the industry they worked is in decline


·Total growth is the amount that the economy has grown by measuring in billions

·Rate Of growth is the amount by which GDP increases in a year measured as a %

·National Income is all the income in the economy added together (wages, profits) Measured by gross domestic product


·Sustained Rise in the general price level

·Cost Push inflation is businesses pass on rising costs in the form of higher prices

·Demand Pull inflation is when there is too much demand for a good, prices rise and Inflation gets caused

·Money Supply is when there is too much money for too less goods because it is printed


·We Waste lots like put paper on a fruit

·Unintended Effects on third parties  impact of human Acts on the environment locally and globally

·Government Regulations, subsidies, taxation, recycling, compensation(third parties can be Offered payments), environmental agencies offer advice, targets to reduce co2 Em

·Pollution Permits can be traded

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