© 2011 wheresjenny.com Mahatma Gandhi. © 2011 wheresjenny.com Mahatma Gandhi.
© 2011 wheresjenny.com World economy and its effects.
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Transcript of © 2011 wheresjenny.com World economy and its effects.
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World economy and its effects
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Vocabulary
Inflation: Inflation is nothing but a rise in the level of prices of goods and/or services in an economy over a certain period of time
Fiscal Policy: a government adjusts its levels of spending in order to monitor and influence a nation's economy.
Credit creation: Bankruptcy is a legal status of an insolvent person or an organization, that is, one that cannot repay the debts owed to creditors
Energy crisis: An energy crisis is any great bottleneck (or price rise) in the supply of energy resources to an economy.
Recession: Recession means a general decline in the national income (GDP), which includes wages, salaries, profits, interest and rental income shrink. It is always accompanied by a rise in unemployment.
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Vocabulary
English French
Inflation Inflation
Fiscal Policy la politique budgétaire
Credit creation la création de crédit
Energy crisis crise de l'énergie
Recession récession
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Economic Cycle
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Effects
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Market economy
Producers Consumers
Can produce and sell at theirs prices
Can decide to buy or not
Both the Producers and Consumers are free to act, not a forced action
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Rising Gold Price Rising Food Price
Stock Market crashed